Functional Structures Predominate in Firms With

question 65

Multiple Choice

Functional structures predominate in firms with:

• A) An emphasis on catering to individual customers' needs
• B) Rapidly changing markets and technologies
• C) A broad national market
• D) A single or narrow product focus

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Definitions:

Labor-Abundant

Describes an economy or sector that has a high availability of labor relative to capital.

Land-Abundant

A description of a country or region that has a large amount of land available for agriculture or development relative to other inputs.

Urbanized

Characterized by or pertaining to regions that are densely populated with humans and typically have a lot of developed infrastructure.

Heckscher-Ohlin Model

An economic theory that explains international trade in terms of differences in the relative endowments of factors of production among nations, suggesting that countries will export goods that make intensive use of locally abundant factors.