The Allocative Function of Price Works Well Under Conditions Of

question 13

Multiple Choice

The allocative function of price works well under conditions of:

• A)free entry and difficult exit.
• B)free entry and free exit.
• C)free entry only.
• D)free exit only.

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Definitions:

Brainstorming

A group creativity technique designed to generate a large number of ideas for the solution of a problem.

Decision Making

The process of making choices between alternatives, involving judgment, evaluation, and selection, to achieve certain objectives.

Choosing

The process of making a decision or selecting an option among several alternatives.

Deficiency

The state of lacking a necessary quality or element, leading to inadequacy or incompleteness.