Creating a Market That Was Previously "Missing

question 54

Multiple Choice

Creating a market that was previously "missing":

• A) redistributes surplus from buyer to seller.
• B) creates more total surplus.
• C) redistributes surplus from seller to buyer.
• D) redistributes surplus from one market to the one that was previously missing.

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Definitions:

Evolutionary Psychology

A theoretical approach in psychology that attempts to explain useful mental and psychological traits—such as memory, perception, or language—as adaptations, i.e., as the functional products of natural selection.

Natural Selection

A process in biology by which organisms that are better adapted to their environment tend to survive longer and transmit more of their genetic material to succeeding generations.

Mental Processes

Internal, covert activities of the mind or brain, such as thinking, problem-solving, and imagining.

Genetic Expression

The process by which information from a gene is used in the synthesis of a functional gene product, such as proteins or RNA, influencing an organism's traits.