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You are interviewing a new member of the psychology department for the university newspaper. The faculty member states, "Psychology has historically devoted too much attention to pathology, weakness, and suffering." This faculty member's views are MOST similar to the views held by
Economic Efficiency
A condition in which all available resources are utilized in the most effective manner to satisfy society's needs and wants, minimizing waste and maximizing value.
Market Price
The current market value at which an asset or service is up for sale or purchase.
External Benefits
Positive effects experienced by those not directly involved in an economic transaction.
Efficient Equilibrium
A state in which resources are allocated in the most efficient manner, leaving no potential for reallocating resources to make someone better off without making someone else worse off.
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