To Increase Work Efficiency and Make It Easier to Match

question 52

Multiple Choice

To increase work efficiency and make it easier to match employee competencies with job requirements, companies:

• A)divide work into more specialized jobs.
• B)rely on formal hierarchy as a coordinating mechanism.
• C)rely on a narrow span of control.
• D)centralize decision making.
• E)rely on formal hierarchy and a narrow span of control.

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Definitions:

Equilibrium Price

The price at which the quantity of a good or service supplied matches the quantity demanded, leading to market stability where there is no excess supply or demand.

Producer Surplus

The inequality between the monetary expectations of producers for a good or service and the actual monetary outcome.

Wireless Mouse Market

The segment of the market that deals with the selling and purchasing of cordless mice, a common computer peripheral.

Efficient Market

A market where all relevant information is quickly and correctly reflected in securities prices, ensuring that transactions are made fairly and accurately.