Which of the Following Structures Allows Managers to Be Responsive

question 21

Multiple Choice

Which of the following structures allows managers to be responsive to the needs of their customers and allows them to act flexibly in making decisions in response to customers' changing needs?

• A) Market structure
• B) Geographic structure
• C) Functional structure
• D) Matrix structure
• E) Transitional structure

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Definitions:

Demand Elasticities

Demand elasticities measure how sensitive the quantity demanded of a good or service is to changes in its price, income levels, or other factors.

Market Demand

The total quantity of a good or service that all consumers in a market are willing and able to buy at various prices.

Competitive Price-Searcher

A market condition where firms continually search for the best prices to maximize their profits in a competitive environment.

Economic Efficiency

The optimization of resources to best fulfill the needs and wants of individuals and society with the least waste.