Market Systems Can Be Evaluated as Efficient or Inefficient, but Not

question 90

True/False

Market systems can be evaluated as efficient or inefficient, but not as fair or unfair.

---

Definitions:

Annual Food Budget

An annual food budget refers to the total amount of money allocated for the purchase of food over the course of a year.

Personal Responsibility

The idea that individuals are responsible for their own actions and consequences, emphasizing accountability and self-reliance.

Work Opportunity Act

Legislation aimed at increasing job opportunities for individuals, often focusing on providing skills and training to the unemployed or underemployed.

Poverty Rate

A measure indicating the percentage of the population whose income falls below the threshold considered necessary for basic living conditions.