If Social Values Are Not Reflected in the Market Values

question 13

Multiple Choice

If social values are not reflected in the market values determined by the market demand and market supply curves, the competitive market equilibrium output will ______________.

• A) always be the socially efficient level of output
• B) not be the socially efficient level of output
• C) always be higher than the socially efficient level of output
• D) always be lower than the socially efficient level of output

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Definitions:

Causal Attributions

The process of explaining the causes of behavior and events, which can influence one's understanding and reaction to situations.

Staff Meeting

A regular gathering of employees led by their supervisor or manager to discuss issues, share information, and coordinate activities related to their work.

Late

The state of occurring after the expected, usual, or proper time.

Pygmalion Effect

The phenomenon whereby higher expectations lead to an increase in performance; a form of self-fulfilling prophecy.