Which One of the Following Statements Is True

question 41

Multiple Choice

Which one of the following statements is true?

• A)Firms are markets in and of themselves.
• B)Firms do not organize factors of production to produce goods and services.
• C)Firms are buyers of consumer goods and services.
• D)Efficient firms can eliminate scarcity.
• E)Firms are often more efficient than markets as coordinators of economic activity.

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Definitions:

Problem-Solving

The process of identifying issues, analyzing possible solutions, and selecting and implementing the best option to address a challenge or difficulty.

Team Cohesiveness

Describes the extent to which team members are attracted to each other and motivated to stay in the team, which generally results in higher productivity and morale.

Task Orientation

A focus on completing tasks and achieving specific outcomes, often prioritizing work and productivity.

Trait Approach

A perspective in psychology focused on the identification and measurement of specific personality traits.