In Most Societies, Resources Are Allocated by

question 77

Multiple Choice

In most societies, resources are allocated by

• A)a single central planner.
• B)a small number of central planners.
• C)those firms that use resources to provide goods and services.
• D)the combined actions of millions of households and firms.

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Definitions:

Personal Initiative

The self-starting and proactive action that an individual takes to go beyond the basic requirements and bring about positive change.

Intrinsic Motivation

The drive to engage in activities for their own sake, deriving pleasure and satisfaction from the activities themselves rather than external rewards.

Basic Psychological Needs

Essential motivational drives related to autonomy, competence, and relatedness, which humans need to foster well-being and growth.

Self-Determination Theory

A theory of motivation that suggests people are driven to grow and change by three innate and universal psychological needs: competence, autonomy, and relatedness.