Suppose That You Study Hard, Master the Principles of Economics

question 171

Multiple Choice

Suppose that you study hard, master the principles of economics, and earn a good grade in your economics class. This is an example of a good institution because:

• A) your school is selective; not everyone can get in.
• B) your self-interest in getting good grades aligns with the social interest of having people who understand economics.
• C) everybody gets good grades.
• D) sometimes the invisible hand is absent, not just invisible.

---

Definitions:

Reengineering

The radical redesign of business processes to achieve dramatic improvements in productivity, cycle times, and quality, often involving the use of technology.

Pulse Survey

A quick, frequent survey designed to capture the immediate sentiments or feedback of a group, often used in the context of employee engagement.

Ford Motor Company

An American multinational automaker founded by Henry Ford, known for revolutionizing vehicle manufacturing through the use of assembly lines.

Customer Satisfaction

The degree to which a product or service meets or exceeds the customer's expectations.