Markets Use Prices to Allocate Resources,while Firms Use

question 15

Multiple Choice

Markets use prices to allocate resources,while firms use:

• A)cost-price ratios.
• B)managers.
• C)the board of directors.
• D)random decisions.

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Definitions:

Developmental Psychology

The field of psychology that studies how people grow and change throughout their lives, from infancy to old age.

Person-Environment Fit

A psychological theory that posits individuals will be more satisfied and perform better when their characteristics match the demands of their environment.

Career Counseling

A professional service aimed at helping individuals make informed decisions about their career paths and facing career challenges.

Worker Productivity

A measure of the output of goods and services produced by a worker within a specific period.