Selective Benefits That Entail Such Activities as Conferences and Training

question 136

Multiple Choice

Selective benefits that entail such activities as conferences and training programs are known as __________ benefits.

• A)solidary
• B)material
• C)informational
• D)purposive

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Definitions:

Equilibrium Price

The price at which the quantity of a good or service demanded by consumers matches the quantity supplied by producers, resulting in market balance.

Producer Surplus

The difference between what producers are willing to accept for a good or service versus what they actually receive in the market.

Allocative Efficiency

A state of resource allocation where goods and services are distributed according to consumer preferences in a way that maximizes utility.

External Benefits

Advantages that result from a product or service's use that affect someone other than the direct consumer or producer, often justifying government intervention.