The Price System Automatically Leads to an Efficient Allocation of Inputs

question 36

True/False

The price system automatically leads to an efficient allocation of inputs among the different production processes.

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Definitions:

Cost-Saving

Cost-saving refers to measures or actions taken to reduce expenses and increase efficiency, thereby saving money.

Alternative Dispute Resolution

A range of dispute resolution methods outside of the judicial process, including mediation and arbitration, aimed at resolving conflicts without going to court.

Optional

Something that is not mandatory and can be chosen according to preference.

Cost-Saving

Strategies or actions taken to reduce expenses and improve efficiency, often to increase profitability.