Organization Design Is an Important Step in Determining the Kinds

question 128

True/False

Organization design is an important step in determining the kinds of activities and behaviours that are critical to organizational success.

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Definitions:

Price Floor

A government- or group-imposed limit on how low a price can be charged for a product, intended to prevent prices from dropping too low.

Shortage/Surplus

A market condition: shortage occurs when demand exceeds supply, and surplus happens when supply exceeds demand.

Price Ceiling

A government-imposed limit on how high a price can be charged for a product, service, or resource.

Market Equilibrium

Market equilibrium is a condition where the quantity of a product supplied is equal to the quantity demanded, leading to a stable market price for the product.