Which of the Following Statements Is Correct

question 17

Multiple Choice

Which of the following statements is correct?

• A) International privacy and security laws are very consistent.
• B) Consistent international privacy and security laws help companies with their regulatory requirements from country to country.
• C) Consistent international privacy and security laws enable information to flow freely among countries.
• D) The absence of consistent international privacy and security laws has led to a complex global legal framework.
• E) Consistent international privacy and security laws are followed by all countries.

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Definitions:

Allocative Efficiency

A state of the economy where resources are allocated in a way that maximizes the overall benefit to society.

Productive Efficiency

Occurs when a good or service is produced at the lowest possible cost, utilizing all resources efficiently.

Cartel

A formal agreement among firms (or countries) in an industry to set the price of a product and establish the outputs of the individual firms (or countries) or to divide the market for the product geographically.

Economic Efficiency

A situation in which resources are optimally allocated to serve each individual or entity in the best way while minimizing waste and inefficiency.