What is a coordination mechanism?

What is a coordination m Show more In the Book ECON 121 Santa Ana College Volume 2. Answer the question: 1> What is a coordination mechanism? Give an example. a. It is a method of coordinating peoples wants with other peoples desires. All markets are a type of coordination mechanism. b. It is a method of helping people overcome their predictable irrationalities by mapping their preferences with all possible outcomes. Most coordination mechanisms are a matter of information. c. It is a method of deciding how to best coordinate worker abilities within a firm. Because a firm works by command and control not markets it must have a coordination mechanism. d. It is a method of coordinating peoples wants with other peoples desires. Only markets with money and prices have a coordination mechanism. Markets without money and prices cannot match wants and desires. Show less

QUICK QUOTE

Approximately 250 words