Recognizing the Incentive Power of Property Rights and Markets, Some

question 78

Multiple Choice

Recognizing the incentive power of property rights and markets, some of the most die-hard central planners are now allowing _____

• A) influence from custom or religion.
• B) family relations to play significant economic roles.
• C) a role for markets.
• D) communal ownership of property.
• E) the basic economic questions to be decided by the government.

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Definitions:

Waiting Time

The period during which one waits for something to happen or arrive.

Hierarchy of Authority

An organizational structure where every entity in the organization, except one, is subordinate to a single other entity.

Efficiently

means accomplishing a task or completing a process in a way that maximizes productivity with the minimum wasted effort or expense.

Contemporary Management

Involves current practices, strategies, and technologies used by managers to achieve organizational goals and address modern challenges.