Job Specialization Refers the Process by Which

question 75

Multiple Choice

Job specialization refers the process by which

• A)each position's formal authority in an organizational hierarchy is established.
• B)division of labor occurs as different workers gain expertise in tasks.
• C)subordinates receive orders and report to only one superior.
• D)members of different departments work together in cross-departmental teams to accomplish projects.
• E)employees explore new ways to improve how tasks are performed.

---

Definitions:

Risk-Free

Refers to an investment that is considered to have no risk of financial loss.

Perfectly Competitive Market

A market structure characterized by a large number of small firms, homogeneity of products, free entry and exit, and perfect information, leading to firms being price takers.

Economic Profits

Profits exceeding the opportunity costs of all resources employed, used as a measure of efficiency and competitiveness in economic theory.

Limited Resources

Refers to the finite amount of resources available for production of goods and services, including labor, capital, and natural resources.