The Price System Functions Most Effectively When

question 34

Multiple Choice

The price system functions most effectively when

• A) supply equals demand.
• B) there is no divergence between private costs and social costs.
• C) prices equal output.
• D) external diseconomies equal external economies.
• E) there is a complete absence of direct regulation.

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Definitions:

Sucking

A natural reflex and action by which infants draw milk from the breast or bottle, crucial for feeding during early life.

Breathing Reflexes

Involuntary responses that control breathing, such as the automatic adjustment of breathing rate in response to CO2 levels in the blood.

General Anesthesia

refers to a medically induced coma with loss of protective reflexes, resulting from the administration of one or more general anaesthetic agents.

Cesarean Section

Cesarean Section, also known as a C-section, is a surgical procedure used to deliver a baby through incisions in the mother's abdomen and uterus.