Which of the Following Observations Is True

question 117

Multiple Choice

Which of the following observations is true?

• A)Free markets will achieve all of society's goals.
• B)The ability to buy goods is divided equally among consumers.
• C)The market leads to efficiency in production through the profit motive.
• D)The market system encourages firms to use inputs wastefully.

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Definitions:

Slides

A single page or image, often part of a presentation, used to convey information visually, typically displayed with a projector or on a computer screen.

Recency Effect

This refers to the tendency to remember the most recently presented information best.

Implicit Memory

The system for long-term storage of unconscious memories that cannot be verbally described.

Levels of Processing Model

A theory suggesting that the depth (shallow to deep) of mental processing affects memory recall, with deeper processing leading to better recall.