The Basic Principles of Economics Suggest That

question 80

Multiple Choice

The basic principles of economics suggest that

• A)markets are seldom,if ever,a good way to organize economic activity.
• B)government should become involved in markets when trade between countries is involved.
• C)government should become involved in markets when those markets fail to produce efficient or fair outcomes.
• D)All of the above are correct.

Understand the concepts and objectives of a SWOT analysis including internal and external analyses.

Comprehend the importance and methods of environmental scanning in strategic planning.

Recognize the role and impact of stakeholders in an organization.

Understand the concept and components of a cultural audit within an organization.

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Definitions:

Cocktail Party Effect

The phenomenon where an individual can focus on a single conversation in a noisy environment, filtering out other voices and background noise.

Selective Attention

The cognitive process of focusing on a particular object in the environment for a certain period while ignoring other irrelevant information.

Parental Acceptance

The act of recognizing and supporting a child’s qualities and decisions by a parent or guardian.

Self-Esteem

The subjective evaluation of one's own worth, encompassing beliefs and emotions about oneself.