Examlex
A child has a large ventricular septal defect (VSD) with left-to-right shunting.Which information about VSDs does the faculty member explain to the nursing student? (Select all that apply.)
Pareto Efficient Allocations
refers to an economic situation where no individual can be made better off without making someone else worse off.
First Theorem of Welfare Economics
A principle stating that, under perfect competition and with no externalities, the allocation of resources where supply equals demand leads to a Pareto efficient outcome.
Competitive Equilibrium
A state in a market where supply equals demand, with price acting as the balancing factor, and all economic agents are optimizing their outcomes.
Pareto Optimum
An economic state where resources are allocated in a manner that precludes the possibility of bettering one's situation without causing harm to another.
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