Q1. The production of a rock concert is an example of which type of organization of an economic activity? A) Systemic coordination. B) Market coordination. C) Firm coordination.
Q2. Which of the following statements least accurately describes why firms can coordinate economic activity more efficiently than markets? Firms can achieve: A) economies of team production. B) economies of scope. C) diversification benefits.
Q3. Two ways in which economic activity may be coordinated include: A) market coordination and firm coordination. B) market coordination and systemic coordination. C) market coordination and structural coordination. |