It Is Essential to Establish Specific Criteria to Judge the Performance

question 26

Multiple Choice

It is essential to establish specific criteria to judge the performance of any economic system. One such criterion is

• A) efficiency.
• B) profit opportunity.
• C) technological progress.
• D) achieving general equilibrium.

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Definitions:

Strongest Predictor

A variable or factor that has the highest correlation or impact on determining the outcome of a study or model.

Happiness

A condition of being well that is identified by feelings that vary from satisfaction to profound happiness.

Feel Guilty

The emotional state resulting from the belief that one has violated a moral standard or caused harm to someone.

Apologize

The act of expressing regret or sorrow for having wronged or caused harm.