Examlex
Which of the following statements is CORRECT?
ITQs
Individual Transferable Quotas, a system in resource management where individuals or companies have the right to a portion of the total allowable catch or quota.
Least Costly Way
The most efficient method of achieving a desired outcome or producing a good or service, minimizing expenses while meeting specified objectives.
Economic Efficiency
A condition where resources are allocated in a way that maximizes the net benefit to society.
Runs Out
A situation where a supply or quantity of something is completely used up or exhausted.
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