Which of the Following Statements Is Correct

question 136

Multiple Choice

Which of the following statements is correct?

• A)In an economy-wide sense,property rights are an important prerequisite for the price system to work.
• B)Property rights give people the ability to exercise authority over the resources they own.
• C)Based on the available evidence,the existence of well-established and well-enforced property rights appears to be associated with an enhanced standard of living.
• D)All of the above are correct.

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Definitions:

Decentralised

A system where decision-making powers are distributed among various levels within an organization rather than being concentrated at a single point.

Extensive Delegation

The practice of assigning authority and responsibility widely within an organization to empower employees and improve decision-making processes.

Authority-and-Responsibility

Refers to the right to make decisions and the obligation to ensure tasks are completed as expected, often discussed in managerial and organizational contexts.

Supervisor

An individual in a position of authority who oversees the work of others, often directly managing employees.