Match Each of the Following System Characteristics with Its Corresponding

question 9

Multiple Choice

Match each of the following system characteristics with its corresponding description.
-The overall goal or function of a system

• A)Component
• B)Boundary
• C)Constraint
• D)Environment
• E)Input
• F)Interface
• G)Interrelated components
• H)Output
• I)Purpose

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Definitions:

Coordination Problem

A challenge faced by individuals or organizations when their interests conflict, requiring them to align their actions or decisions to achieve a common goal.

Incentive Problem

A situation where the incentives or motivations available to individuals or firms do not align with broader economic, social, or organizational goals, potentially leading to suboptimal outcomes.

Central Planning

An economic system where the government makes all decisions about the production and distribution of goods and services, controlling resources and directing activities.

Prices

The amount of money required to purchase a good or service, often determined by supply and demand dynamics.