Modern Information Systems _____ an Organization's Need for Hierarchy and _____

question 82

Multiple Choice

Modern information systems _____ an organization's need for hierarchy and _____ its efficiency.

• A) decrease; decrease
• B) decrease; increase
• C) increase; increase
• D) increase; decrease
• E) increase; does not affect

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Definitions:

Competitive Level

indicates the intensity of competition within a market, influencing firms' strategies and market outcomes.

Price Searchers

Firms or individuals who determine their selling price based on the demand and supply conditions of the market, rather than being price takers.

Downward-sloping Demand

Refers to the economic principle that, all else being equal, as the price of a good or service decreases, the quantity demanded increases.

Inelastic Demand

A condition in market dynamics where the demand for a product does not significantly change with a change in the product's price.