Which of the Following Statements About the MBA Oath Developed

question 55

Multiple Choice

Which of the following statements about the MBA oath developed by Harvard Business School students is accurate?

• A) It requires the taker to reject the pursuit of personal wealth and profits.
• B) It gives emphasis to the work of the individual and influence on the individual.
• C) It is required of most graduates of MBA programs in the U.S.
• D) It requires a promise to hold up proper laws and contracts.

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Definitions:

Internalized

The process of incorporating external costs or benefits into the market price of goods or services.

Efficient

Refers to a situation where resources are utilized in the best possible manner to produce desired outcomes without wasting materials, energy, or time.

Government Intervention

Actions taken by a government to influence or regulate different aspects of its economy.

Coase Theorem

Suggests that if property rights are clearly defined and transaction costs are low, parties will negotiate to solve externalities on their own.