Why Should You Prepare an Agenda Even for Informal Meetings

question 108

Multiple Choice

Why should you prepare an agenda even for informal meetings?

• A) It will give you a record of what has been discussed.
• B) It will help focus the attention of all participants.
• C) It enables you to inform participants of the day, time, and place.
• D) It will cover reports of previous meetings.
• E) It will convince participants of the need for a meeting.

---

Definitions:

Public Good

A good that is non-excludable and non-rivalrous, meaning individuals cannot be effectively excluded from its use, and one individual's use does not reduce availability to others.

Asymmetric Information

A situation where one party to a market transaction has much more information about a product or service than the other. The result may be an under- or overallocation of resources.

Inefficient Outcomes

Situations where resources are not allocated optimally, resulting in potential losses in economic welfare.

Allocative Efficiency

A state of resource allocation where it is impossible to make any one individual better off without making someone else worse off, often achieved when marginal cost equals marginal benefit.