Which of the Following Is an Important Ingredient for the Achievement

question 44

Multiple Choice

Which of the following is an important ingredient for the achievement of efficient economic organization?

• A)highly restrictive exchange rate controls
• B)secure property rights and political stability
• C)high and variable rates of inflation
• D)high marginal tax rates

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Definitions:

Price Gouging

A situation where sellers increase the prices of goods, services, or commodities to a level much higher than is considered reasonable or fair, often during a crisis.

Increase in Supply

A scenario where there is a growth in the availability of a product or service, often due to improvements in technology or increases in input resources.

Quantity Demanded

The total amount of a good or service that consumers are willing and able to purchase at a given price level in a specified period.

Agricultural Economist

A professional specializing in the study and application of economic principles within the agricultural sector, focusing on maximizing efficiency and productivity.