Allocative Efficiency Means That

question 70

Multiple Choice

Allocative efficiency means that:

• A) the law of increasing opportunity costs has reached a maximum.
• B) the least costly methods are being used to produce goods and services.
• C) resources are being devoted to the production of goods and services most desired by society.
• D) the amount of other products that must be sacrificed to obtain production of a given product is at a minimum.

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Definitions:

Personal Space

The physical area surrounding an individual that they regard as psychologically theirs, invasion of which can lead to discomfort or anxiety.

Patient's Safety

The reduction of risk of unnecessary harm to an acceptable minimum in the healthcare setting, ensuring the well-being of patients.

Defense Mechanism

Psychological strategies used unconsciously by individuals to protect themselves from anxiety or unacceptable thoughts and feelings.

Projection

A psychological defense mechanism where undesirable feelings or emotions are attributed to others instead of oneself.