In Markets, the Invisible Hand Allocates Resources Efficiently

question 305

Multiple Choice

In markets, the invisible hand allocates resources efficiently

• A)in all cases.
• B)when the buyers and sellers are the only interested parties.
• C)when there are positive externalities, but not when there are negative externalities.
• D)when there are negative externalities, but not when there are positive externalities.

Appreciate the role of organizational culture in business strategies.

Identify key cultural values and their impact on organizational strategies.

Understand the organizational variables that complement specific managerial strategies.

Comprehend the importance of an effective organizational structure in reducing uncertainty.

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Definitions:

Extremities

The furthest or most remote points, parts, or boundaries of an area, structure, or part.

Profile Tolerance

A geometric dimensioning and tolerancing method that specifies the allowable variation of a surface's profile.

True Profile

The accurate outline or contour of an object's surface as specified in design documentation.

Circular Runout

Circular runout is a tolerance specified on cylindrical parts to control the amount of variation or wobbles as the part rotates around a datum axis.