Which of the Following Statements Is NOT True About the Price

question 102

Multiple Choice

Which of the following statements is NOT true about the price system?

• A) The price system allows resources to flow from low-valued uses to high-valued uses.
• B) Firms have total control over what consumers can buy.
• C) Individuals have freedom to purchase what they want.
• D) The price system allows for economic efficiency.

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Definitions:

Repatriation

The process of returning a person to their country of origin or citizenship, often used in the context of employees returning home after an international assignment.

Multinational Corporation

An enterprise conducting business, either through manufacturing or providing services, across various nations.

Uncertainty Avoidance

The degree to which individuals or cultures are comfortable with risk, ambiguity, and uncertainty in decision making.

Geert Hofstede

A Dutch social psychologist known for his research on cross-cultural groups and organizations, particularly for developing cultural dimensions theory.