Allocative Efficiency Is a Property of the Behaviour of

question 65

Multiple Choice

Allocative efficiency is a property of the behaviour of

• A)individual firms.
• B)all firms in an industry.
• C)perfectly-competitive firms.
• D)monopolies.
• E)the overall economy.

Grasp the concept of maintaining the same ratio under changing conditions in sports, business, and finance.

Understand the basic forms of business ownership and their characteristics.

Recognize the legal and tax implications of different business organizations.

Identify the requirements for forming, operating, and dissolving various business entities.