Despite Many Differences, the Market and Public Sectors Are Similar

question 168

Multiple Choice

Despite many differences, the market and public sectors are similar in which one of the following respects?

• A) In both sectors, income (or power) is distributed on the basis of the same criterion.
• B) Consumers in the market sector and voters in the public sector are equally well informed.
• C) Voluntary exchange, rather than compulsion, is characteristic of both sectors.
• D) It will be costly to use scarce goods, whether through the private or the public sector.

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Definitions:

Operations Technology

Is the combination of resources, knowledge, and techniques that creates a product or service output for an organization.

Artifacts

Objects created by humans that are typically of cultural or historical interest.

Adhocracy

Emphasizes shared, decentralized decision making; extreme horizontal specialization; few levels of management; the virtual absence of formal controls; and few rules, policies, and procedures.

General Environment

Is the set of cultural, economic, legal–political, and educational conditions found in the areas in which the organization operates.