Markets Tend to Be Efficient Because

question 149

Multiple Choice

Markets tend to be efficient because

• A) people respond to incentives.
• B) Adam Smith created markets.
• C) entrepreneurs always try to produce at the lowest possible cost.
• D) decisions are always made at the margin.

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Definitions:

Plant Pigments

Natural compounds produced by plants that absorb specific wavelengths of light and give plants their color.

Sodium Ion

A positively charged ion formed when sodium loses one electron, playing crucial roles in nerve impulse transmission and fluid balance in the body.

Iodine (IKI) Test

A chemical assay that tests for the presence of starch by changing color in its presence.

Blue-Black Color

A deep, dark shade combining blue and black, often associated with bruising or certain pigments.