Examlex
Which of the following services is an example of information processing?
Equilibrium Price
The price at which the quantity of a good or service demanded equals the quantity supplied, stabilizing the market.
Efficiency
A measure of how well resources are used to achieve a goal, typically minimizing waste and cost while maximizing output or outcomes.
Least Possible Cost
The minimum expense required to achieve a particular economic objective.
General Equilibrium
A situation in which supply and demand are balanced across all markets in the economy.
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