For Meaningful Understanding of Global Issues, Students Need to Go

question 10

Multiple Choice

For meaningful understanding of global issues, students need to go beyond learning and become involved by:

• A) seeking out new facts related to the topic.
• B) moving on to another issue in which they again are investigating, researching, and communicating.
• C) reflecting and analyzing the impact or the potential impact on the lives of individuals.
• D) journaling and recording the steps they follow throughout their investigation.

Interpret graphs related to purely competitive markets, including aspects of allocative efficiency, marginal benefit, and marginal cost.

Explain the significance of price equaling marginal cost for resource allocation efficiency.

Identify the benefits of creative destruction and innovation within purely competitive markets.

Relate economic concepts like consumer surplus, producer surplus, and deadweight loss to market equilibrium.