According to the ________ definition of organizations, an organization is seen as a means by which capital and labor are transformed by the organization into outputs to the environment.
A) microeconomic
B) macroeconomic
C) sociotechnical
D) behavioral
E) psychological

Microeconomics is the study of the way behaviors of individual participants of the market (like buyers, sellers, and owners of businesses) influence resource allocation. In other words, microeconomics relates to supply and demand and how these interact in many markets.

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According to the ________ definition of organizations, an organization is seen as a means by which capital and labor are transformed by the organization into outputs to the environment. A) microeconomic B) macroeconomic C) sociotechnical D) behavioral E) psychological

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According to the ________ definition of organizations, an organization is seen as a means by which capital and labor are transformed by the organization into outputs to the environment.
A) microeconomic
B) macroeconomic
C) sociotechnical
D) behavioral
E) psychological