________ Increases Economic Efficiency Because It Forces Firms to Produce

question 83

Multiple Choice

________ increases economic efficiency because it forces firms to produce and sell goods and services as long as the additional benefit to consumers is greater than the additional cost of production.

• A)Competition
• B)Voluntary exchange
• C)Equity
• D)A centrally planned economy

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Definitions:

George W. Bush

The 43rd President of the United States (2001–2009), known for leading the country during the September 11 attacks and initiating the Iraq War.

Hurricane Katrina

2005 hurricane that devastated much of the Gulf Coast, especially New Orleans. The Bush administration’s response was widely criticized as inadequate.

Poverty

A condition where individuals or communities lack the financial resources to meet basic needs such as food, shelter, and healthcare, leading to decreased quality of life.

2004 Presidential Election

The United States presidential election held in 2004, where Republican incumbent President George W. Bush was re-elected, defeating Democratic nominee John Kerry.