Competitive Markets Usually Promote the Efficient Use of Resources

question 13

Multiple Choice

Competitive markets usually promote the efficient use of resources.This is because:

• A)resource owners bear the wealth effects of their decisions.
• B)managers always have the proper incentives to make decisions.
• C)consumers price makers
• D)markets usually make equitable choices first.

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Definitions:

Opiates

A category of drugs derived from the opium poppy, used medicinally for pain relief but also capable of causing dependency.

Central Nervous System

The part of the nervous system consisting of the brain and spinal cord, which is responsible for processing and transmitting information in the body.

Narcotic

Substances that bring relief from pain and induce sleep, often associated with dependency or addiction potential.

Cocaine

A powerful stimulant drug derived from the leaves of the coca plant, often used recreationally for its euphoric effects but illegal and associated with serious health risks.