In Economic Terms, All Resources

question 19

Multiple Choice

In economic terms, all resources:

• A)are infinite because they can be replaced by substitutes.
• B)are distributed fairly by the government.
• C)can be made available everywhere.
• D)are distributed efficiently in the market.

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Definitions:

Halo Error

A cognitive bias in which the perception of one positively regarded trait influences the perception of other traits of an individual.

Managing by Objectives

A management strategy in which employees and managers collaborate to set, monitor, and achieve specific objectives.

Transformational Leadership

A style of leadership where a leader works with teams to identify needed change, creating a vision to guide the change through inspiration, and executing the change in tandem with committed members of the group.

Experience of Flow

A state of complete immersion and focus in an activity, often leading to a sense of enjoyment and fulfillment.