Likert Used the Terms "System-1" and "System-4" to Refer to ________

question 11

Multiple Choice

Likert used the terms "System-1" and "System-4" to refer to ________ organizations respectively.

• A) functional and organic
• B) functional and matrix
• C) centralized and decentralized
• D) mechanistic and organic

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Definitions:

Economic Profit

The difference between total revenue and total costs, including both explicit and implicit costs, reflecting the actual profitability of a firm beyond accounting profit.

Equilibrium

A state of balance in a market when the quantity demanded equals the quantity supplied, leading to no further incentive to change.

Short Run

A time period during which at least one factor of production is fixed, limiting the capacity to adjust fully to market conditions.

Maximum Total Profits

The highest possible profit that a firm can achieve, determined by subtracting total costs from total revenues at the optimal level of production.