An Efficient Economy Is One That Produces What Consumers Demand

question 1

True/False

An efficient economy is one that produces what consumers demand and does so at the least possible cost.

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Definitions:

Survey Research

A method of collecting information from a sample of individuals using questionnaires or interviews to study opinions, behaviors, or characteristics.

Self-Report

A method where individuals provide data about themselves, often in questionnaires or surveys, typically used in psychology and social science research.

Primary Research

involves the collection of original data through direct investigation or experiments, rather than analyzing previously published data.

Bonus Product

An additional item given to consumers as an incentive for purchasing a primary product.