Consent Can Only Be Given by People Who Are Competent

question 10

True/False

Consent can only be given by people who are competent to consent and have done so voluntarily.

---

Definitions:

Opportunity Cost

The worth of the best alternative given up as a consequence of a decision made.

Competitive Market System

An economic system where many buyers and sellers interact in the marketplace, with the forces of supply and demand determining prices and output levels.

Innovation

Innovation is the process of translating an idea or invention into a good or service that creates value or for which customers will pay.

Economic Profits

Profits in excess of what is considered normal or expected, considering both explicit and implicit costs.