Which of the Following Statements Is True

question 2

Multiple Choice

Which of the following statements is true?

• A) Command economies do a better job at maximizing social welfare in comparison to market economies.
• B) The incentive problem and the coordination problem lead to lower efficiency in market economies.
• C) Central planners in command economies have to make decisions that prices would automatically have made in market economies.
• D) Bringing economic agents together to trade is easier in command economies than in market economies.

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Definitions:

External Recruiting

Is the process of looking to sources outside the organization for prospective employees.

Job Posting

Is a mechanism for internal recruiting in which vacancies in the organization are publicized through various media such as company newsletters, bulletin boards, internal memos, and the firm’s intranet.

Assessment Center

A methodology used in the selection process involving a series of tests, exercises, and interviews to evaluate candidates' suitability for specific roles or promotions.

Current Managers

Individuals who presently hold managerial positions within an organization, overseeing and making decisions on personnel and operations.