Markets Fail to Allocate Resources Efficiently When

question 25

Multiple Choice

Markets fail to allocate resources efficiently when

• A) prices fluctuate.
• B) people who have property rights abuse their privileges.
• C) property rights are poorly enforced or not well established.
• D) the government refuses to intervene in private markets.

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Definitions:

Output Per Worker

A measure of productivity calculated by dividing total output by the number of workers.

Increasing Productivity

A process or strategy aimed at enhancing the efficiency of production, often resulting in higher output with the same or less input.

Human Resource Management Practices

The systematic management of people within an organization, including recruitment, selection, training, development, and compensation.

Organizational Size

A measurement reflecting the scale and scope of an organization, often considered in terms of employees, revenues, or physical footprint.