Which One of the Following Statements Is True

question 41

Multiple Choice

Which one of the following statements is true?

• A)Firms are markets in and of themselves.
• B)Firms do not organize factors of production to produce goods and services.
• C)Firms are buyers of consumer goods and services.
• D)Efficient firms can eliminate scarcity.
• E)Firms are often more efficient than markets as coordinators of economic activity.

---

Definitions:

Group Norms

The shared expectations and rules that guide the behavior of individuals within a group, influencing conformity and social interactions.

Collaborative Goals

Objectives designed to be achieved through teamwork and cooperation among individuals or groups.

Attractive Outcomes

Desirable results or benefits that motivate individuals or groups towards a particular course of action.

Team Reflexivity

is a process where team members collectively reflect on the team's objectives, strategies, processes, and outcomes to improve performance.