If an Economy Is Efficient

question 105

Multiple Choice

If an economy is efficient:

• A)all goods are produced at their maximum quantity.
• B)all opportunities to make people better off without making other people worse off have been taken.
• C)more resources have been used to produce specific consumer goods than producer goods.
• D)prices are the lowest they can possibly be.

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Definitions:

Heritability Estimates

Statistical measures that indicate what proportion of variation in a trait within a population can be attributed to genetic differences.

Heredity

The passing on of physical or mental characteristics genetically from one generation to another.

Genetic Variations

Differences in DNA sequences among individuals, which contribute to the biological diversity of species.

Population Increase

The growth in the number of individuals in a population, often discussed in the context of environmental, economic, and social implications.