A Good Is Most Likely to Be Inefficiently Priced If

question 101

Multiple Choice

A good is most likely to be inefficiently priced if

• A)some of the resources used in its production are scarce.
• B)the good is private property.
• C)some of the resources used in its production are free.
• D)a corporation produces the good.

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Definitions:

Director

A high-level position in organizations responsible for making major business decisions and overseeing company operations.

Systems Software

The collection of software that manages the resources of a computer and provides a platform for running application software, including operating systems and utilities.

Application Software

Application software consists of computer programs and tools designed to help users perform specific tasks or activities beyond the basic operation of the computer itself.

Hardware

The physical components of a computer system, such as the CPU, RAM, hard drives, motherboard, and peripheral devices.