Freely Functioning Markets

question 17

Multiple Choice

Freely functioning markets

• A) always produce an efficient allocation of resources.
• B) may be unfair due to significant income disparities that result.
• C) have no need for government intervention.
• D) All of the above are correct.

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Definitions:

Linear Programming

A mathematical technique used for optimizing resource allocation decisions subject to certain constraints.

Markov Analysis

A mathematical technique used to predict the future behavior of a system based on its current state and known transition probabilities.

HR Supply Forecasting

The process of predicting the future availability of human resources in the organization in terms of quantity and quality.

HR Supply

The available pool of candidates that an organization's human resources department can draw upon to fill positions.