All Organisations Have

question 74

Multiple Choice

All organisations have:

• A) A formal hierarchy that includes supervisors and non-supervisory employees
• B) A divisionalised structure
• C) Some form of coordinating mechanism
• D) A mechanistic structure

Identify the factors of production and their significance.

Understand the concept of monopsony in labor markets and its effects on employment and wages.

Recognize how changes in the supply of any factor of production can affect the earnings of all factors.

Understand the concept of derived demand for labor and how it is influenced by other markets.