Which of the Following Would Tell Us That Resources Are

question 235

Multiple Choice

Which of the following would tell us that resources are not flowing to their highest valued uses?

• A) Short-run economic profits
• B) Short-run economic losses
• C) Long-run economic profits
• D) Some firms are just breaking even.

---

Definitions:

European Union

A political and economic union of 27 European countries that participate in a unified international framework for political, social, and economic policies.

Merchandise Balance

The gap between what a nation exports and imports in terms of physical products.

Services Balance

The difference in value between a country's exported and imported services.

Highly Specialized Economy

An economy focusing on the development and production of specific goods or services, utilizing advanced technology or unique skills for efficiency.