Competitive Markets Result Allocative Efficiency Because They

question 43

Multiple Choice

Competitive markets result allocative efficiency because they:

• A)Maximize the total benefits from exchange
• B)Make sure goods are produce at the lowest costs
• C)Generate the most benefits for consumers
• D)Distribute resources in the most equitable way

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Definitions:

Sensory Impairments

Conditions that affect an individual's ability to receive and process sensory information, such as sight or hearing loss.

Normalization Principle

A concept in disability rights that emphasizes the right of people with disabilities to live a life as close as possible to the norms and patterns of the mainstream society.

Disabilities

Impairments in physical, mental, cognitive, or developmental functions that interact with various barriers may hinder an individual's full and effective participation in society.