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Noah thinks more skillfully than others when faced with novelty. Given a new task, Noah applies his information-processing skills in exceptionally effective ways, rapidly making these skills automatic so that working memory is freed for more complex aspects of the situation. According to Sternberg's theory, Noah's strengths lie in __________ intelligence.
Productive Efficiency
A situation where a system or economy can no longer produce additional amounts of a good without lowering the production level of another product.
Allocative Efficiency
A state of the economy where the distribution of resources among different uses is optimal, maximizing total societal welfare.
Equilibrium Price
The price at which the quantity of a good or service demanded by consumers equals the quantity supplied by producers, establishing market balance.
Equilibrium Quantity
The level of goods or services supplied matches the consumer demand at the price which establishes market equilibrium.
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