Which of the Following Statements About Resource Allocation Is Correct

question 102

Multiple Choice

Which of the following statements about resource allocation is correct?

• A)Within a firm, resources are allocated by prices; in the market, resources are allocated by the decisions of managers.
• B)Resources are allocated by prices both in the market and within the firm.
• C)Within a firm, resources are allocated by the decisions of managers; in the market, resources are allocated by prices.
• D)Resources are allocated by the decisions of managers both within the firm and in the market.
• E)In the market, resources are allocated either by prices or by the decisions of managers.

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Definitions:

Jointly Exhaustive

A characteristic of a set of categories or propositions that together cover all possible scenarios or outcomes, leaving no options unaccounted for.

Jointly Exhaustive

A condition in which a set of options or propositions covers all possible outcomes or cases, leaving no scenario unaddressed.

Consistent Principle

A rule or guideline in logic or mathematics that does not lead to a contradiction when applied.

Jointly Exhaustive

A condition in which all possible cases or outcomes are covered or accounted for by a set of categories or propositions.