Resource Use Is Allocatively Efficient When

question 282

Multiple Choice

Resource use is allocatively efficient when

• A) we produce the amount of the different goods we value most highly.
• B) we produce the goods with the highest opportunity cost.
• C) we produce the goods with the lowest opportunity cost.
• D) we cannot produce more goods and services.

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Definitions:

Epiglottis

A flap of tissue at the root of the tongue that is depressed during swallowing to cover the opening of the windpipe and prevent food from entering the lungs.

Larynx

The voice box located in the throat, responsible for producing vocal sounds, protecting the trachea during swallowing, and regulating airflow to the lungs.

Chronic Bronchitis

Inflammation of the bronchi in the lungs that is usually caused by smoking or exposure to environmental contaminants.

Mucus

A slippery secretion produced by mucous membranes and glands for protection and lubrication in various parts of the body.