Which of the Following Key Components of Visions Often Proves

question 50

Multiple Choice

Which of the following key components of visions often proves to be the most difficult task?

• A)Making the case for change
• B)Making the vision short and to the point
• C)Making the methods to achieve the vision explicit
• D)All of these are equally difficult
• E)None of these are particularly difficult

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Definitions:

Utility

The satisfaction or benefit derived by consumers from consuming goods and services.

Opportunity Cost

The potential benefit that is missed out on when choosing one alternative over another.

Production Possibilities

Production possibilities refer to the different combinations of goods and services that an economy can produce given its available resources and technology, illustrated by the production possibilities frontier (PPF).

Consumer Goods

Products and services that are consumed by individuals or households to satisfy their immediate needs and wants.