Which of the Following Principles Is Not One of the Four

question 239

Multiple Choice

Which of the following principles is not one of the four principles of individual decisionmaking?

• A) People face tradeoffs.
• B) Trade can make everyone better off.
• C) People respond to incentives.
• D) Rational people think at the margin.

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Definitions:

Horizontal Specialization

The division of work in an organization where tasks are divided among departments or teams based on expertise or functions, leading to specialization in certain areas.

Corporate Charter

A legal document that establishes a corporation, outlining its structure, purpose, and the rights and responsibilities of its members.

Mission Statement

A concise declaration of an organization's core purpose and focus that remains unchanged over time.

Organizational Effectiveness

The measure of a organization's ability to achieve its goals and objectives in an efficient and productive manner.