In Most Societies, Resources Are Allocated by

question 77

Multiple Choice

In most societies, resources are allocated by

• A)a single central planner.
• B)a small number of central planners.
• C)those firms that use resources to provide goods and services.
• D)the combined actions of millions of households and firms.

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Definitions:

Authoritative

Being final or conclusive; a position of power where the holder is able to enforce rules or directives.

Policies

Formal guidelines or rules that govern actions and decision-making within an organization.

Grapevines

Informal channels of communication within an organization, often based on rumor or gossip, which can spread information quickly but sometimes inaccurately.

Transfer Information

The process of conveying data, facts, or knowledge from one person, place, or entity to another.