Allocating Authority in an Organization,which Gives Lower-Level Managers and Nonmanagerial

question 79

Multiple Choice

Allocating authority in an organization,which gives lower-level managers and nonmanagerial employees the right to make important decisions about how to use organizational resources,is an example of:

• A) a tall organizational structure.
• B) a high span of control.
• C) centralization of authority.
• D) maximum chain of command.
• E) decentralization of authority.

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Definitions:

Marginal Cost

The expenditure required to create one more unit of a product or service.

Retail Price

The total price charged for a product sold to the end consumer, inclusive of all taxes and charges.

Five-firm Concentration Ratio

An indicator of market concentration, measuring the combined market share of the top five firms within an industry.

Market-clearing Quantity

is the quantity of goods or services at which supply equals demand, so there are no surpluses or shortages in the market.