Higher Quality Decisions Result From

question 73

Multiple Choice

Higher quality decisions result from:

• A) Higher quality information
• B) Higher quality reports
• C) Higher quality decision making processes
• D) All of the above

---

Definitions:

Competitive Equilibrium

A market state where supply equals demand, and no economic actors have the incentive to change their behavior.

Demand Equals Supply

A market equilibrium condition where the quantity of a good or service demanded by consumers equals the quantity supplied by producers.

Numeraire

A unit of account or standard measure in economics used to compare the value of goods or services.

Pareto Optimal

Another term for Pareto Efficient; describes a situation where no one's condition can be improved without worsening someone else's condition.