Which Is Not a Weakness of Group Decision Making

question 38

Multiple Choice

Which is not a weakness of group decision making?

• A)It is time consuming.
• B)It can be dominated by one or a few members.
• C)There is increased diversity of views.
• D)It suffers from ambiguous responsibility.

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Definitions:

Price Floor

Price floor is a government or group-imposed limit below which prices cannot fall, typically set to ensure producers can cover their costs.

Equilibrium Price

The price at which the quantity of a good or service demanded by consumers is equal to the quantity supplied by producers, resulting in market balance.

Quantity Demanded

The total amount of a good or service that consumers are willing and able to purchase at a given price in a specific period.

Quantity Supplied

The amount of a good or service that producers are willing and able to sell at a given price over a specified period.