When Collective Decision Making Is Utilized to Resolve Economic Questions

question 200

Multiple Choice

When collective decision making is utilized to resolve economic questions regarding the allocation of resources,

• A) the role of markets will be replaced by political decision making.
• B) centralized decision making in all areas is inevitable.
• C) the preferences of individuals are of no importance.
• D) economic efficiency will be assured.

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Definitions:

Slow-selling Merchandise

Items in inventory that move or sell at a slower pace than anticipated, often leading to excess stock and markdowns.

Cash Cycle

Refers to the amount of time it takes for a company to convert its investments in inventory and other resources into cash flows from sales.

Selling Inventory

The process of selling goods and products that a company holds in stock, often a major revenue source.

Cash Cycle

The period between when a business pays for its inventory or services and when it receives payment for its products or services, effectively measuring the efficiency of its cash management.