Which of the following is true about a hierarchy?
a. It primarily acts as a residual claimant.
b. It is a group of individuals who make decisions.
c. It is an alternative to independent specialization of individual workers.
d. It is a group of individuals who hold shares of the company and are entitled to dividends.
Question 2
With economies of scale came
A) larger families.
B) simpler business forms.
C) the need for management structures beyond what a family could offer.
D) fewer economies of scope.
