Effectuation Refers To

question 66

Multiple Choice

Effectuation refers to:

• A) the degree of attention a target market pays to an idea or organization.
• B) an approach used to create alternatives in uncertain environments.
• C) transforming a high-growth venture into a small business.
• D) a process of a person becoming an owner by inheriting or getting a stake in a family business.

---

Definitions:

Free-Rider Problem

A situation where some individuals consume more than their fair share of a public resource, or shoulder less of the cost of its production, benefiting from it without paying for it.

Social Benefits

The total gains that accrue to society from an economic transaction or policy, encompassing both direct and indirect effects.

Pollution

The contamination of the natural environment, leading to adverse effects on ecosystems, human health, and quality of life.

Market Demand Curve

A graphical representation that shows the relationship between the price of a good or service and the total quantity demanded by all consumers in the market.