We Are Using Resources Efficiently If We Can Produce More

question 257

True/False

We are using resources efficiently if we can produce more of one good without producing less of some other good that we value more highly.

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Definitions:

Entrepreneurship

The activity of setting up a business or businesses, taking on financial risks in the hope of profit.

Economic Independence

The state of having sufficient personal wealth to live, without needing to work actively for basic necessities, allowing individuals or nations to have control over their financial future.

Visible Minorities

Refers to persons, other than Indigenous peoples, who are non-Caucasian in race or non-white in color and are recognized in certain jurisdictions for policy and diversity planning.

Self-Starters

Individuals who are motivated and begin or proceed with tasks without requiring external encouragement or pressure.