From the Economist's Point of View

question 297

Multiple Choice

From the economist's point of view

• A) wants and needs are exactly the same.
• B) a want is a lifesaving necessity.
• C) needs are objectively undefinable.
• D) we all have wants but only very poor people have needs.

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Definitions:

Departmentalization

The process of dividing an organization into different departments or units, each specializing in certain tasks or functions.

Team-Based Structures

Team-based structures are organizational arrangements where work is coordinated and carried out primarily through teams rather than traditional hierarchical lines.

Divisionalized Structures

An organizational structure where operations are segregated based on products, services, markets, or geographical locations.

Environmental Diversity

The variation in the biological, chemical, and physical characteristics of the environment, often considered in efforts to sustainably manage natural resources and mitigate climate impact.