Which One of the Following Best Describes the Concept of 'Information

question 4

Multiple Choice

Which one of the following best describes the concept of 'information panopticon'?

• A)the consolidation of various sources of electronic information about organizational members that is made available to the organizational elites
• B)a central building that houses all key information about people's lives
• C)a video surveillance camera that watches workers 24 hours a day
• D)all of these

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Definitions:

Feasible Allocation

is a concept in economics that refers to the division of resources or goods among various uses or people in a way that is possible given the resources available.

Utility Function

A mathematical representation in economics that captures the level of satisfaction or utility that consumers derive from consuming goods and services.

Desert Island

A secluded and uninhabited island, often used in scenarios and thought experiments in economics and ethics to explore human behavior in isolation.

Competitive Equilibrium

A market situation where supply equates demand, leaving no incentive for price changes, assuming all agents are price-takers.