Examlex
An economic ________ is a simplified version of some aspect of economic life used to analyse an economic issue.
Organic
In organizations, refers to structures or processes that are flexible, adaptable, and decentralized; in agriculture, pertains to farming practices that avoid synthetic chemicals.
Modular Organization
A flexible organizational structure where components or modules can be easily assembled, reassembled, added, or removed to adapt to changing demands.
Market Mechanisms
The use of market principles and forces to allocate resources and determine prices within an economy.
Formal Lines
Predetermined channels of communication and authority within an organization, established through its structure and policies to ensure effective coordination and control.
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