Why Is It Necessary for All Economic Systems to Not

question 143

Multiple Choice

Why is it necessary for all economic systems to not only provide people with goods and services,but also restrict them from getting as much of these goods and services as they wish?

• A) Failure to do this could reduce the efficiency of the system by producing some goods and services that are not as highly valued as others.
• B) Failure to do this could lead to an inequitable allocation of goods and services produced.
• C) Failure to do this could lead to drastic shortages of good and services.
• D) Failure to do this could reduces efficiency and leads to an inequitable allocation of output.

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Definitions:

Municipal Dump

A designated area operated by a local government where waste and trash are disposed of and sometimes processed or recycled.

Old Bicycle

This term simply describes a bicycle that is not new, possibly indicating it is used, vintage, or not in its prime condition.

Stolen

Refers to property that has been taken without permission or authorization, implicating an act of theft.

Improvements

Improvements refer to changes or additions made to property or assets that enhance their value, utility, or appearance.