An Example of Mimetic Force Is

question 54

Multiple Choice

An example of mimetic force is:

• A) reengineering.
• B) accounting standards.
• C) pollution controls.
• D) consultant training.

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Definitions:

Property Rights

Legal rights and claims governing the use, transfer, and disposal of property, which can apply to both tangible and intangible assets.

Market Failure

A situation where the free market fails to allocate resources efficiently, leading to a net social welfare loss.

Private Goods

Goods that are excludable and rival in consumption, meaning their use is limited to paying customers and one person's use of the good prevents another's use of it.

Prices

The sum of money needed to buy a product or service.