The Existence of Scarcity Means That

question 166

Multiple Choice

The existence of scarcity means that

• A) there are not enough resources to satisfy unlimited human wants.
• B) firms will increase their production to eliminate the scarcity.
• C) the government will step in to eliminate the scarcity.
• D) firms working with the government will allocate resources to eliminate the scarcity.

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Definitions:

Task-Related Communication

The exchange of information and coordination efforts specifically focused on the completion and management of work-related tasks.

Probability

A measure of the likelihood that a given event will occur, often expressed as a number between 0 (impossible) and 1 (certain).

Grapevines

Informal channels of communication within an organization, often characterized by the unofficial spread of information.

Media Richness

The theory that describes the capacity of a given communication medium to effectively convey information and promote understanding.