Markets Have the Advantage Over Central Planning as the Method

question 214

Multiple Choice

Markets have the advantage over central planning as the method of resource allocation because:

• A) resources travel to their highest-value uses.
• B) resources are allocated equally across all uses.
• C) resources are distributed to those goods that have a larger number of substitutes.
• D) central planners have never been shown to correctly identify high-value uses of products.

Understand the concepts of observable culture within an organization.

Recognize the adaptive strategies of contemporary managers in the 21st-century environment.

Understand operations objectives in customer-driven organizations.

Recognize the significance of continuous improvement and its application in organizations.

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Definitions:

Isolation Transformer

A type of transformer used to transfer electrical power from a source of alternating current (AC) without connecting the two circuits electrically.

Physically Separated

Refers to components or elements that are positioned apart with a measurable distance or barrier to ensure no direct contact or interference.

Conductor

A material or object that allows the flow of electric charge in one or more directions.

Isolation Transformer

A transformer used to transfer electrical power from a source of alternating current (AC) power to some equipment or device while isolating the powered device from the power source, usually for safety.