The Price Mechanism Solves the "For Whom" Problem by Assigning

question 112

True/False

The price mechanism solves the "for whom" problem by assigning high prices to goods in high demand and letting customers choose whether to purchase them.

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Definitions:

Operant Conditioning

A method of instruction where the potency of a conduct is adjusted by means of incentives or disciplinary measures.

Negative Reinforcement

A behavioral strategy in which the removal of an undesirable or negative outcome follows a desired behavior, thereby increasing the likelihood of that behavior being repeated.

Job Rotation

Job rotation is a human resource management strategy where employees are moved between different jobs or tasks to gain a variety of skills and experiences and to prevent job fatigue and dissatisfaction.

Task Variety

Refers to the diversity of activities and skills involved in a job, aimed at reducing monotony and increasing employee satisfaction.