One of the Drawbacks of Free Markets Is the Fact

question 5

True/False

One of the drawbacks of free markets is the fact that competition in such markets undermines the ability of price to adjust to its equilibrium value in the long run.

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Definitions:

Work Dimensions

Refers to the various aspects and attributes of a job, including its responsibilities, workload, and complexity.

Personal Trait

An enduring characteristic or quality of an individual that influences behavior and attitudes.

Productivity

The measure of the efficiency of a person, machine, factory, system, etc., in converting inputs into useful outputs.

Intelligence

The ability to acquire and apply knowledge and skills.