Which of the Following Is a Characteristic of a Formal

question 25

Multiple Choice

Which of the following is a characteristic of a formal group?

• A)It is typically formed around common personality traits.
• B)Its members are unaffected by organizational boundaries.
• C)It is governed by official rules and unspoken norms.
• D)Its members always have the final say about their membership.

---

Definitions:

Economic Inefficiency

A situation where resources are not allocated optimally, leading to waste or an outcome where potential gains are not fully realized.

Production Possibilities Curve

A graphical representation that shows the maximum possible output combinations of two goods or services an economy can achieve when all resources are fully employed.

Market Prices

The amounts at which goods and services can be bought or sold in open markets.

Resource Substitutability

The degree to which different inputs (or resources) can be substituted for one another in the production process.