Examlex
Identify the statement that is false.
Utilities
Essential services provided to the public, including electricity, gas, water, and sewage services, often regulated due to their importance and natural monopoly characteristics.
Agriculture
The practice of cultivating the land, producing crops, and raising livestock for human consumption and use.
Allocatively Efficient
Allocative efficiency occurs when resources are distributed in a way that maximizes the net benefit to society.
Productively Efficient
Refers to a situation where an economy or firm produces goods at the lowest possible cost per unit, utilizing resources in the best way possible.
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