Examlex
Which of the following concepts are important to utilize when evaluating orders for restraints?
Shortages
Occur when the demand for a good or service exceeds its supply in a given market, often leading to price increases.
Allocative Efficiency
Occurs when resources are distributed in a way that maximizes the net benefit to society.
Least Costly Way
Refers to a method or strategy that aims to achieve a particular goal or produce a specific outcome with the minimum possible expense or use of resources.
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