Which Statement Explains Why Many Economists Have Often Compared the Functioning

question 198

Multiple Choice

Which statement explains why many economists have often compared the functioning of worldwide markets to the functioning of a computer?

• A) Worldwide markets can allocate resources randomly just as a computer can generate random data.
• B) Without the use of computers, markets cannot solve the information problem of resource use.
• C) Without the use of computers, markets cannot solve the allocation problem of resource use.
• D) Worldwide markets can solve very large resource-allocation problems by simply using the price signal mechanism.

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Definitions:

Motivation

The process that initiates, guides, and maintains goal-oriented behaviors, driving individuals to pursue and achieve objectives.

Stereotypes

Overgeneralized beliefs about a particular category of people that do not consider individual difference.

Conflict

A situation or process in which individuals or groups perceive that they have incompatible objectives, leading to potential opposition or antagonistic interactions.

Constructive Conflict

Involves disagreements or debates that lead to positive outcomes, such as solutions to problems, improved relationships, or innovative ideas, by focusing on issues rather than personal attacks.