-In the Market,an Externality Exists

question 97

Multiple Choice

-In the market,an externality exists.From the diagram above,one can deduce that it is a

• A) negative externality.
• B) positional externality.
• C) positive externality.
• D) positional arms race.
• E) prisoner's dilemma.

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Definitions:

Productivity

The measure of efficiency of a person, machine, factory, system, etc., in converting inputs into useful outputs.

Company Culture

The shared values, beliefs, and practices that shape the social and psychological environment of a business.

Business Strategy

A plan of action designed to achieve a set of objectives and gain a competitive advantage in the market.

Selection Process

The series of steps employed by an organization to evaluate and choose the best candidates for a particular job.