Buyers and Sellers Receive Signals from Markets

question 1

Multiple Choice

Buyers and sellers receive signals from markets

• A)by listening to the TV news programs.
• B)through the price system.
• C)from the gossip columns in the newspapers.
• D)from their friends and acquaintances.

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Definitions:

Steiner's "Law"

A principle named after Ivan Steiner, suggesting that the actual productivity of a group is equal to its potential productivity minus losses due to faulty group processes.

Productivity

Refers to the level of effectiveness in producing desired results or outputs, especially in the context of work or economic activity.

Process Loss

The inefficiency in decision-making processes within a group, leading to outcomes that are inferior to those that could have been achieved by individuals or by more effective collaborative approaches.

Dorso-lateral Prefrontal Cortex

A region in the brain that is involved in executive functions like managing working memory, decision making, and inhibitory control.