Control Based on the Use of Pricing Mechanisms and Economic

question 119

Multiple Choice

Control based on the use of pricing mechanisms and economic information to regulate activities within organizations is referred to as ________ control.

• A)clan
• B)feedback
• C)market
• D)feedforward
• E)bureaucratic

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Definitions:

World Trade

The exchange of goods, services, and capital between countries and territories across the globe, fostering economic integration and development.

Significant

Important or of consequence, often used to describe the extent to which something matters or impacts a given context.

Acquired Comparative Advantage

An economic concept where a country becomes more efficient at producing certain goods or services due to factors other than its natural endowments, such as technology or quality of education.

Automobiles

Vehicles designed for transporting passengers on roads.