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__________ Means the Keeping of Promises and Commitments as Well

question 3

Multiple Choice

__________ means the keeping of promises and commitments as well as the refusing to make promises that compromise the well -being of coworkers and the organization.

Definitions:

Economic Efficiency

The optimal distribution of resources in society, taking into account all benefits and costs.

Government Failures

Occur when government intervention in the economy leads to inefficiencies, misallocation of resources, or negative outcomes contrary to the intended goals.

Market Failures

Situations where the allocation of goods and services by a free market is not efficient, often justifying government intervention.

Economic Activities

Actions that involve the production, distribution and consumption of goods and services at all levels within a society.