Examlex

Solved

Which of the Following Lists Is in the Correct Order

question 45

Multiple Choice

Which of the following lists is in the correct order, from the least inclusive to the most inclusive?


Definitions:

Spillover Cost

A cost incurred by someone who is not a direct participant in a transaction, often referring to negative externalities resulting from economic activities.

Allocative Efficiency

occurs when resources are distributed in a manner that results in the optimal combination of goods and services produced to match consumer preferences.

Productive Efficiency

The production of a good in the least costly way; occurs when production takes place at the output level at which per-unit production costs are minimized.

Marginal Cost

The charge of crafting one more unit of a product or service.

Related Questions