Which One of the Following Statements Is True

question 41

Multiple Choice

Which one of the following statements is true?

• A)Firms are markets in and of themselves.
• B)Firms do not organize factors of production to produce goods and services.
• C)Firms are buyers of consumer goods and services.
• D)Efficient firms can eliminate scarcity.
• E)Firms are often more efficient than markets as coordinators of economic activity.

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Definitions:

Output-Related Pay

Compensation that varies depending on the quantity or quality of work produced by an employee.

Key Conditions

Essential factors or requirements necessary for a particular event, process, or outcome to occur.

Indirect Pay

Compensation that is not directly paid as wages to employees but includes benefits such as health insurance, retirement plans, and paid time off.

Advantages and Disadvantages

The pros and cons associated with a particular decision, action, or proposition, weighing benefits against potential drawbacks.