An Issue That Generates Substantial Benefits to a Small Group

question 14

Multiple Choice

An issue that generates substantial benefits to a small group of individuals while imposing a small cost on many others is called a

• A) special-interest issue.
• B) minority application.
• C) commons policy.
• D) national service.

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Definitions:

Potentially Efficient

A state where resources could be allocated in a way that no one could be made better off without making someone else worse off.

High-Income Families

Households that earn a significantly higher income than the average, often placed within the top income brackets for a particular region, influencing their spending, saving, and investment behavior.

Low-Income Families

Households that earn significantly less income than the average for their location or society, often qualifying them for certain types of financial aid.

Efficient Allocation

The optimal distribution of resources among competing uses, allowing for the best possible achievement of goals with minimal wasted effort or expense.