PRZ IncFunctions with Systematic Order and a Hierarchical System of Management

question 47

Multiple Choice

PRZ Inc.functions with systematic order and a hierarchical system of management.It is characterized by formal channels of communication.The employees of the firm are required to strictly abide by the formal rules of the company.PRZ Inc.is an) ________.

• A)adaptive organization
• B)bureaucracy
• C)decentralized organization
• D)boundaryless organization
• E)strategic alliance

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Definitions:

Pure Competition

A market structure characterized by a large number of small firms, a homogeneous product, and free entry and exit, leading to price-taking behavior.

Monopolistic Competition

A market structure characterized by many firms selling products that are similar but not identical, leading to competitive practices based on product differentiation.

Market Structures

Refers to the organization and characteristics of different markets, varying by the number of firms, type of products, and level of competition.

Product Variety

The assortment or range of different goods or services offered by a seller or available in a market.