The Invisible Hand of the Marketplace Acts to Allocate Resources

question 103

True/False

The invisible hand of the marketplace acts to allocate resources efficiently as well as equitably.

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Definitions:

EIS

Environmental Impact Statement, a document prepared to describe the effects for proposed activities on the environment.

NEPA

The National Environmental Policy Act, a U.S. law that mandates federal agencies to assess the environmental effects of their proposed actions prior to making decisions.

Environment

encompasses all external factors influencing an organism or community, including natural, social, and built contexts.

Federal Agencies

Organizations established by the federal government to implement specific legislation and oversee a particular area of interest or concern.