Which of the Following Statements About Markets Is Correct? I

question 104

Multiple Choice

Which of the following statements about markets is correct? I. A market helps resources move to their highest-valued uses by means of prices.
II) A market encompasses the exchange arrangements of both buyers and sellers.

• A) I only
• B) II only
• C) Both I and II
• D) Neither I nor II

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Definitions:

Lack of Trust

refers to a situation where confidence in the reliability, truth, ability, or strength of someone or something is absent or significantly diminished.

Insecurity

Describes a feeling of uncertainty or anxiety about oneself; lack of confidence.

Relational Skills

Pertains to the abilities required to form and maintain positive interpersonal relationships, facilitating effective communication and collaboration.

Management

The performance of four functions or processes—planning, including charting a direction, determining strategies to succeed, and making policy decisions; organizing, including aligning structure, people, and resources to achieve goals; directing, including supervising, facilitating, coaching, and developing people; and controlling, including tracking progress against plans and making corrections; an endeavor requiring technical, relational, and conceptual skills.