The Built-In Mechanisms That an Organization Has to Produce Stability

question 134

Multiple Choice

The built-in mechanisms that an organization has to produce stability are referred to as

• A)structural inertia.
• B)threat to expertise.
• C)habit.
• D)selective information processing.
• E)economic factors.

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Definitions:

Comparative Advantage

is the ability of an individual or country to produce a good or service at a lower opportunity cost than competitors.

Opportunity Cost

The cost of what is foregone in order to pursue a certain action, essentially the benefits you could have received by taking an alternative action.

Consumer Sovereignty

The idea that consumers ultimately dictate what will be produced (or not produced) by choosing what to purchase (and what not to purchase).

Economic Problem

The issue of limited resources to meet unlimited wants and needs, requiring choices and prioritization.