Which of the Following Is NOT Necessary for a Product-

question 60

Multiple Choice

Which of the following is NOT necessary for a product- related objective to be effective?

• A)It should be clear.
• B)It should focus on short- term implications.
• C)It should be measurable.
• D)It should be feasible.
• E)It should indicate a specific time frame.

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Definitions:

Negative Externality

A situation where the production or consumption of a good or service results in a harmful effect on unrelated third parties.

Market Equilibrium

Occurs when the quantity of a product demanded by consumers equals the quantity supplied by producers, leading to a stable price.

Socially Optimal Level

An economic condition where resources are allocated in a way that maximizes the overall benefit to society, considering both efficiency and equity.

Regulation

A rule or directive made and maintained by an authority.