Factors That Impede the Attainment of Economic Efficiency in the Public

question 98

Multiple Choice

Factors that impede the attainment of economic efficiency in the public sector are called

• A)market failures.
• B)externalities.
• C)government failures.
• D)voting irregularities.

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Definitions:

Agreed Upon

A decision or plan that has been accepted and consented to by all parties involved.

Gain-sharing

A performance-based compensation strategy where employees receive bonuses based on the improvement of company metrics.

Productivity Increases

The improvement in the efficiency of production processes, leading to more output from the same amount of inputs.

Measurable Cost Reductions

Specific decreases in expenses that can be quantified and attributed to specific actions or initiatives.