An Efficient Allocation of Resources Would Be Characterised By

question 42

Multiple Choice

An efficient allocation of resources would be characterised by:

• A) a good being produced by the sellers with lowest cost
• B) there is a shortage at the current market price
• C) a good is not being bought by the buyers the highest value
• D) all of the above are correct

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Definitions:

Object Permanence

The understanding that objects continue to exist even when they cannot be seen, heard, touched, smelled, or sensed in any way.

Theory of Mind

The capacity to recognize and understand one's own and others' mental states, such as beliefs, intentions, desires, and emotions, realizing that others may have perspectives and thoughts distinct from our own.

Capacity for Abstract Reasoning

The capacity to contemplate concepts, principles, and entities that are not tangible or visible.

Negligent

Failing to take proper care in doing something, often resulting in damage or injury to others.