Technological Advance Improves Allocative Efficiency by

question 50

Multiple Choice

Technological advance improves allocative efficiency by

• A)enhancing monopoly power.
• B)reducing income inequality.
• C)giving society a more-preferred mix of goods and services.
• D)encouraging saving.

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Definitions:

Aerial Photography

The technique of taking photographs from an elevated position, typically from an aircraft or drone, often used for surveying, mapping, and cinematography.

Databases

Organized collections of data, typically electronically stored, that can be accessed, managed, and updated.

Visual Reporting

Visual reporting involves the presentation of data and information in graphical or visual formats, such as charts, graphs, and maps, to facilitate better understanding and insight.

Sequential Relationships

The logical or chronological order in which events, ideas, or processes follow one another.