When Buying or Selling a Commodity with Known Characteristics,the Invisible

question 176

Multiple Choice

When buying or selling a commodity with known characteristics,the invisible hand will produce an outcome that ________ and where production costs are ________.

• A) maximizes economic surplus;minimized
• B) maximizes economic surplus;maximized
• C) is equitable;minimized
• D) is equitable;maximized
• E) maximizes economic surplus and is equitable;minimized

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Definitions:

IFRS

International Financial Reporting Standards, which are a set of accounting standards developed by the International Accounting Standards Board (IASB) for the preparation of public company financial statements globally.

Noncontrolling Interest

It refers to the ownership in a subsidiary not attributable to the parent company, representing a minority share that does not control the company.

Assets

Economic resources owned or controlled by a business or an individual which are expected to produce future benefit.