An Economic System in Which Relative Prices Change to Reflect

question 67

Multiple Choice

An economic system in which relative prices change to reflect changes in supply and demand for different goods and services is known as a

• A) socialist system.
• B) communist system.
• C) ration.
• D) market.

Understand the differences and similarities between content and values conflicts, and how they are resolved.

Identify the psychological and structural factors leading to conflict in the workplace.

Recognize the importance of maintaining positive relationships and achieving basic goals in conflict resolution strategies.

Understand different sources and types of conflicts within organizations.

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Definitions:

Judicial Proceeding

A formal process before a court of law involving the adjudication of legal claims or disputes.

Contract

An agreement that can be enforced in court; formed by two or more parties, each of whom agrees to perform or to refrain from performing some act now or in the future.

Federal Statute

A law enacted by the national government of a country.

U.S. Constitution

The foundational document of the United States that outlines the framework of the government and the rights and freedoms of its citizens.