If an Economy Is Efficient

question 105

Multiple Choice

If an economy is efficient:

• A)all goods are produced at their maximum quantity.
• B)all opportunities to make people better off without making other people worse off have been taken.
• C)more resources have been used to produce specific consumer goods than producer goods.
• D)prices are the lowest they can possibly be.

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Definitions:

Sociometric Popularity

A measure of how much an individual is liked within a group, often determined through peer evaluations.

Ethnicity

A social division based on shared culture, language, or heritage, often linked to national or geographical identity.

Demographics

Statistical data relating to the population and particular groups within it, including factors such as age, race, gender, and income.

Adoptive Parents

Individuals or couples who become the legal parents of a child through the process of adoption, assuming parental rights and responsibilities.