If the Price of Margarine Falls, the Demand for Butter

question 271

Multiple Choice

If the price of margarine falls, the demand for butter will

• A) remain unchanged.
• B) increase.
• C) decrease.
• D) rise at first and then fall.

---

Definitions:

Standardizing Work

The process of developing and implementing uniform procedures for tasks to increase efficiency and consistency.

Job Descriptions

A formal document that outlines the essential responsibilities, qualifications, and duties of a specific job position, serving as a foundation for hiring, performance evaluations, and role clarity.

Organic Structure

An organizational structure characterized by flexibility, decentralization of authority, minimal formal procedures, and encouragement of horizontal communication.

Organizational Structure

The framework that outlines how activities such as task allocation, coordination, and supervision are directed towards the achievement of organizational aims.