Inefficiency Exists in an Economy When a Good Is

question 68

Multiple Choice

Inefficiency exists in an economy when a good is

• A)being produced with less than all available resources.
• B)not distributed fairly among buyers.
• C)not being produced by the lowest-cost producers.
• D)being consumed by buyers who value it most highly.

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Definitions:

Genetics

The study of genes, heredity, and genetic variation in living organisms, explaining how traits are passed from parents to offspring.

Artistic Interest

Artistic interest pertains to a person's attraction or passion towards arts, including appreciation, creation, and involvement in artistic activities.

Genetic Factors

Aspects of an individual's genetic makeup that influence their physical and behavioral traits.

Environmental Factors

Aspects of the surrounding environment that can influence living organisms, including social, cultural, physical, and chemical factors.