Markets _______ in the _______ of Resources

question 166

Multiple Choice

Markets _______ in the _______ of resources.

• A) usually result; equal distribution
• B) never fail; efficient allocation
• C) sometimes result; inefficient allocation
• D) can never be counted on; efficient

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Definitions:

Employers and Employees

Relationship between individuals who hire and pay for labor (employers) and those who work for pay (employees) within an organizational context.

Property Rights

Legal rights that dictate the ownership and utilization of property, including the rights to sell, lease, occupy, or develop the owned property.

Individual Rights

The liberties and rights guaranteed to each person, often protected under law or constitution.

Industrial Relations System

A conceptual framework concerning the structure and processes involved in the employment relationship, including the interactions among employers, employees, and their representatives.