The Most Commonly Used Notion of Economic Efficiency Originated in the Writings

question 56

Multiple Choice

The most commonly used notion of economic efficiency originated in the writings of:

• A) John Nash.
• B) Kenneth Arrow.
• C) Gerard Debreu.
• D) Vilfredo Pareto.

---

Definitions:

Indiscriminate Use

Utilizing resources, tools, or practices without regard for consequences, often leading to wastefulness or harm.

Pesticides

Chemicals used to kill or control pests that affect crops and human health.

Environmental Movement

A social and political movement focused on addressing environmental issues and promoting sustainable practices.

Cap-and-Trade

An environmental policy tool that sets a cap on emissions and allows companies to buy and sell permits to emit CO2, aiming to reduce overall pollution.