Under Laissez Faire, Output Selection Is Determined by

question 94

Multiple Choice

Under laissez faire, output selection is determined by

• A)consumer preferences.
• B)production costs.
• C)firms' desires to make profits.
• D)All of the above are correct.

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Definitions:

Efficiency

The ability to achieve a desired outcome with minimal waste of time, effort, or resource.

Conversation

A form of interactive, spontaneous communication between two or more people where ideas, information, and sentiments are exchanged.

Laughs

The act or sound of laughing, often a response to humor, joy, or a form of social bonding among people.

Role Set

The array of roles attached to a single status or social position that an individual occupies, illustrating the complexity of social interactions.