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Selecting Data by Means of a Query

question 46

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Selecting data by means of a query:


Definitions:

Allocative Efficiency

occurs when resources are distributed in a manner that results in the optimal combination of goods and services produced to match consumer preferences.

Productive Efficiency

The production of a good in the least costly way; occurs when production takes place at the output level at which per-unit production costs are minimized.

Marginal Cost

The charge of crafting one more unit of a product or service.

Product Markets

Markets where goods and services produced by businesses are sold to households.

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