If the Price of Kayaks Rises, the

question 64

Multiple Choice

If the price of kayaks rises, the

• A) supply of kayaks increases.
• B) supply of kayaks decreases.
• C) quantity supplied of kayaks increases.
• D) quantity supplied of kayaks decreases.

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Definitions:

Superordinate Goals

Shared goals that can only be achieved through the cooperation of two or more parties, often used to overcome intergroup conflict.

Formal Hierarchy

The structured organizational layout that defines the levels of authority, responsibility, and communication within an organization.

Team-Based Organizational Structures

Organizational designs that focus on grouping employees into teams to accomplish tasks and achieve objectives.

Functional Structures

An organizational format that divides the company based on specialized functional areas, such as marketing, finance, and engineering.