The Existence of a Shortage

question 444

Multiple Choice

The existence of a shortage

• A) means resources are being allocated efficiently.
• B) is impossible in a market economy.
• C) pushes the price up.
• D) pushes the price down.

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Definitions:

Linguistic Intelligence

One of Howard Gardner's multiple intelligences, referring to the ability to understand and use languages effectively.

Howard Gardner

An American cognitive psychologist who introduced the theory of multiple intelligences, emphasizing that individuals have distinct kinds of intelligences such as linguistic, logical-mathematical, and musical.

Major Parts

Essential components or sections that make up a whole structure, system, or object.

Triarchic Theory

A theory of intelligence that posits three aspects of intelligent behavior: analytical, creative, and practical intelligence, as formulated by psychologist Robert J. Sternberg.