The "Invisible Hands" Ability to Coordinate the Decisions of the Firms

question 91

Multiple Choice

The "invisible hands" ability to coordinate the decisions of the firms and households in the economy can be hindered by

• A)government actions that distort prices.
• B)increased competition in markets.
• C)enforcement of property rights.
• D)too much attention paid to efficiency.

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Definitions:

Short-Term Orientation

A cultural viewpoint that emphasizes immediate outcomes and gratification, rather than long-term goals.

Czech Republic

The Czech Republic is a Central European country known for its rich history, cultural heritage, and its capital, Prague.

Cultural Value

The commonly held standards of what is acceptable or unacceptable, important or unimportant, right or wrong within a particular community or society.

Low Power Distance

A cultural dimension where individuals prefer less hierarchical, more equal structures in organizations and society.