Economic Efficiency Is Achieved

question 44

Multiple Choice

Economic efficiency is achieved

• A)automatically in a capitalist economy
• B)when every possible Pareto improvement is exploited
• C)when all markets are monopolized
• D)if income is fairly distributed
• E)whenever a voluntary transaction takes place

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Definitions:

European Companies

Firms based in one of the countries in Europe, subject to the region's regulatory, economic, and market conditions.

General Journal

A comprehensive accounting record of all transactions made by a company, listed in chronological order before posting to accounts in the general ledger.

Appliance Repair Business

A business focused on fixing and maintaining home or commercial appliances.

Weekly Wage

The total amount of money paid to an employee on a weekly basis for services rendered.