The Idea That Markets Work Efficiently

question 235

Multiple Choice

The idea that markets work efficiently:

• A) refers to the fact that self-interest can be aligned with social interest.
• B) means that trade-offs can be reduced by channeling greed toward good ends.
• C) suggests that there is never any need for government regulation, taxes, or subsidies.
• D) has been known for many centuries.

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Definitions:

ASD

Autism Spectrum Disorder, a range of neurodevelopmental conditions characterized by challenges with social skills, repetitive behaviors, and speech and nonverbal communication.

High Level

A term typically used to describe a position, status, or activity that is of greater importance, complexity, or abstraction.

Object Permanence

The concept that objects do not cease to exist merely because they are not currently perceived through sight, sound, or other sensory inputs.

Conservation

In cognitive development, the understanding that certain properties of objects remain the same despite changes in the object's outward appearance.