The Price System Has Its Largest Informational Advantage

question 85

Multiple Choice

The price system has its largest informational advantage

• A)any time exchange must take place and different individuals have comparative advantages.
• B)when parties to exchanges are spread out and very close coordination is not necessary.
• C)in government bureaucracy.
• D)in large business enterprises where production is in many locations.
• E)in small business enterprises where all production is one location.

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Definitions:

Defensive Self-esteem

A form of self-esteem that is fragile and dependent on external validation or success.

Self-serving Bias

The common tendency to attribute one's successes to personal characteristics and failures to external factors.

Defensive Self-esteem

A fragile form of self-respect that is highly sensitive to criticism and failures, often leading to a defensive stance to protect one's self-image.

Possible Selves

Concepts of who one might become, who one would like to become, or who one is afraid of becoming, pertaining to future selves.