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Who or What Is Responsible for Bringing Together Scarce Resources

question 18

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Who or what is responsible for bringing together scarce resources to produce most of the goods and services in the U.S.?


Definitions:

Systems Approach

A holistic perspective that considers all components of a system and their interactions to understand or solve complex problems.

Management Theory

A collection of ideas and principles that provide a framework for effective management and organization of businesses and other enterprises.

Unity of Command

A principle in management and military strategy that stipulates each individual should report to only one manager to avoid confusion and conflict.

Henri Fayol

A French engineer and management theorist who is best known for developing a general theory of business administration and establishing the 14 principles of management.

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