Examlex

Solved

Bay Town Enacts an Ordinance to Allow Only a Few

question 8

Multiple Choice

Bay Town enacts an ordinance to allow only a few recreational boating outfits to op-er-ate in certain areas of its harbor,for the purpose of reducing traffic. A court would likely review this ordinance under the principles of


Definitions:

Efficiently

The ability to achieve a goal or fulfill a function with the least waste of time and effort; maximizing productivity with minimum wasted effort or expense.

Economic Model

A simplified representation of economic processes, typically using mathematical formulas, to understand and predict economic behaviors.

Scientific Method

A systematic process of questioning, data collection, analysis, and hypothesis testing used to explore observations and answer questions.

Economic Model

A theoretical construct that represents economic processes by a set of variables and a set of logical or quantitative relationships between them.

Related Questions