In a Market Economy, What Is Scarcity of Resources Most

question 23

Multiple Choice

In a market economy, what is scarcity of resources most clearly reflected in?

• A) supply
• B) demand
• C) market prices
• D) the stock of the resource

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Definitions:

Punishment

A method of correcting or disciplining an individual through the imposition of unpleasant or adverse consequences for undesired behavior.

OB Mod

Organizational Behavior Modification, a strategy aimed at improving employee performance through behavioral techniques.

Productivity

The efficiency at which inputs (such as labor and capital) are converted into outputs (goods or services).

Communication Problems

Issues that arise in the transmission of information that can lead to misunderstandings, conflicts, and errors in decision-making.