Which Statement Explains Why Many Economists Have Often Compared the Functioning

question 198

Multiple Choice

Which statement explains why many economists have often compared the functioning of worldwide markets to the functioning of a computer?

• A) Worldwide markets can allocate resources randomly just as a computer can generate random data.
• B) Without the use of computers, markets cannot solve the information problem of resource use.
• C) Without the use of computers, markets cannot solve the allocation problem of resource use.
• D) Worldwide markets can solve very large resource-allocation problems by simply using the price signal mechanism.

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Definitions:

Employees' Perception

How employees view and understand their workplace, management, and their roles, significantly impacting morale, productivity, and job satisfaction.

Newly Appointed

Refers to a person who has recently been designated or assigned to a new position or role.

Open Door Policy

A management approach where employees are encouraged to openly communicate with their supervisors, managers, or higher-ups without fear of backlash, promoting transparency and trust within an organization.

Management Styles

Various approaches and techniques used by managers to motivate, supervise, and guide employees.