Which of the Following Is the Approach Taken to Determine

question 30

Multiple Choice

Which of the following is the approach taken to determine how individuals value an option by looking at their actions?

• A) contingent valuation
• B) revealed preference
• C) cost-benefit analysis
• D) social discounting

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Definitions:

Operating Efficiency

A measure of how well an organization uses its resources to produce goods or services, typically aiming for the highest output with the least waste.

Formal Organizational Structure

The officially designated arrangement of roles, responsibilities, and relationships within an organization.

Communication Channels

The means through which information is transmitted from one party to another, including verbal, non-verbal, and electronic methods.

Formal Structures

The officially designated channels of communication and hierarchies within an organization that dictate how tasks are assigned and coordinated.