In a Laissez-Faire Economy, ________ What Gets Produced, How It

question 157

Multiple Choice

In a laissez-faire economy, ________ what gets produced, how it is produced, and who gets it.

• A) the behavior of buyers and sellers determines
• B) the central government authority determines
• C) firms but not consumers determine
• D) consumers but not firms determine

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Definitions:

Maintenance Activity

Maintenance Activity involves tasks and operations carried out to keep machinery, equipment, or systems operating efficiently and preventing breakdowns or failures.

Centralized Communication

A communication structure where all decisions and messages are passed through a central point or person within an organization.

Brainstorming

A technique for generating a large number of ideas or solutions to a problem in a short period, typically through a group discussion.

Groupthink

A phenomenon where the desire for harmony in a decision-making group leads to an irrational or dysfunctional decision-making outcome.