Provide an Appropriate Response

question 19

Multiple Choice

Provide an appropriate response.
-A computer uses voice recognition software. Identify the potential error as random or systematic.

• A)Random
• B)Systematic

---

Definitions:

Productive Efficiency

A situation where goods or services are produced at the lowest possible cost, utilizing resources in the best way possible without waste.

Equilibrium Price

The price at which the quantity of goods demanded is equal to the quantity of goods supplied, resulting in a stable market condition.

Surpluses

Surpluses occur when the quantity of a good or service supplied exceeds the quantity demanded, often leading to a decrease in prices.

Market Prices

The current prices at which goods and services can be bought or sold in a marketplace.