The "Invisible Hand" Refers to the Notion That

question 27

Multiple Choice

The "invisible hand" refers to the notion that

• A) competitive markets send resources to their highest valued uses.
• B) government intervention is necessary to ensure efficiency.
• C) marginal benefit decreases as more is consumed.
• D) marginal cost increases as more is produced.
• E) no matter what allocation method is used, the resulting production is efficient.

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Definitions:

Global Team

A group of individuals working together from different geographical locations across the world towards a common goal.

Native Language

The first language a person learns to speak fluently, usually from early childhood.

Time, Distance, Culture

This phrase outlines the three substantial barriers that can affect communication and relationship building in a global context.

Virtual Team

A group of individuals who work together from different geographical locations, relying on communication technology.