Resource Use Is Allocatively Efficient When

question 34

Multiple Choice

Resource use is allocatively efficient when

• A)we produce the amount of the different goods we value most highly.
• B)we produce the goods with the lowest opportunity cost.
• C)we cannot produce more goods and services.
• D)we produce the goods with the highest opportunity cost.

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Definitions:

Building Blocks

Fundamental components or elements from which larger structures, concepts, or systems are constructed or derived.

Role-Playing

Involves conforming to existing performance expectations.

Role-Making

Is the creative process by which individuals generate role expectations and performances.

Role Strain

The stress or tension experienced by an individual when facing difficulty in fulfilling multiple requirements of the same social role.