The Degree to Which Decision Making Is Concentrated at a Single

question 21

Multiple Choice

The degree to which decision making is concentrated at a single point in an organization is called __________.

• A) unity of command
• B) chain of command
• C) span of management
• D) centralization
• E) concentration of authority

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Definitions:

Dominant Strategy

A strategy in game theory that is best for a player, regardless of the strategies chosen by the other players.

Maximum Profits

The highest amount of earnings achievable by a firm when marginal costs equal marginal revenue.

Cartel

A group of producers or vendors coming together to keep prices elevated and limit competition.

Perfectly Competitive

In a perfectly competitive market, numerous small firms sell identical products, and no single seller can influence the market price.