Economists Believe That Scarcity Forces Everyone To

question 156

Multiple Choice

Economists believe that scarcity forces everyone to:

• A) satisfy all their wants.
• B) abandon consumer sovereignty.
• C) lie about their wants.
• D) create unlimited resources.
• E) make choices.

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Definitions:

Virtual Organization

A business model characterized by a network of remote collaborations and communications among individuals or groups, enabled by digital technologies, without a centralized physical office.

Strategic Control

The process of monitoring and assessing the suitability of a strategy against the organizational goals and making necessary adjustments.

Modular Organization

Refers to an organizational structure that is divided into separate, interchangeable units or modules, each with a specific function.

Core Competencies

are the unique capabilities or advantages that give an organization a competitive edge in the market or industry.