Which of the Following Statements About a Price System Is

question 347

Multiple Choice

Which of the following statements about a price system is TRUE? I. Prices ration goods and services.
II) Prices indicate relative scarcity.

• A) I only
• B) II only
• C) Both I and II
• D) Neither I nor II

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Definitions:

Managerial Roles

The specific functions or responsibilities assigned to managers in an organization, which often include planning, organizing, leading, and controlling.

Effective Performance

The degree to which objectives are achieved and the extent to which targeted problems are solved in a timely and efficient manner.

Emotional Stability

refers to a person's ability to remain calm and composed, effectively managing their emotions in face of stress, pressure, or adversity.

Information Processing

The series of actions or operations that the mind or a computer system undertakes to receive, retrieve, store, and utilize information.