Which of the Following Statements Is True

question 416

Multiple Choice

Which of the following statements is true?

• A) Anytime you have to decide which action to take you are experiencing economic equity.
• B) Trade-offs do not apply when the consumers purchase a product for which there is excess supply, such as a stock clearance sale.
• C) Every individual, no matter how rich or poor, is faced with making trade-offs.
• D) Economics is a social science that studies the trade-offs we are forced to make because resources are unlimited.

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Definitions:

Virtual Organization

A network of remotely collaborating individuals or groups not bound by traditional physical office space, often relying on digital communication.

Communication

The act of conveying meanings from one entity or group to another through the use of mutually understood signs, symbols, and semiotic rules.

Transformational Organization

An organization that constantly evolves and adapts by changing its strategies, operations, and culture to meet current trends, challenges, and technologies, inspiring innovation and growth.

Participative Approach

A method that involves taking into account the input and active involvement of all members of a group.