Which of the Following Is an Example of the Rationing

question 122

Multiple Choice

Which of the following is an example of the rationing function of price?

• A)Switching from a Ph.D. in economics to one in finance because finance salaries are higher
• B)Bill Gates purchasing the Mona Lisa for $5 billion
• C)A firm attempting to lower its explicit costs
• D)Government price controls

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Definitions:

Mechanistic

An organizational design characterized by rigid and tightly controlled structures, often found in highly formalized and hierarchical organizations.

Formal

Pertaining to or following established traditions, rules, or conventions, often in an official or professional context.

Network Organizations

are structured around networks rather than traditional hierarchies, emphasizing informal communication, flexibility, and decentralized decision-making.

Virtual Organizations

A business model where an organization operates and coordinates its activities primarily through digital and telecommunication networks rather than in a physical space.