When Production Reflects Consumer Preferences, ________ Occurs

question 34

Multiple Choice

When production reflects consumer preferences, ________ occurs.

• A)allocative efficiency
• B)productive efficiency
• C)equity
• D)efficient central planning

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Definitions:

Class Action

A legal proceeding in which one or more plaintiffs file a lawsuit on behalf of a larger group of people who are similarly affected.

Wrongful Act

An act that is illegal or immoral, leading to legal liability or moral condemnation.

Similarly Affected

A phrase used to describe individuals or entities that experience the same or similar impacts from an event or action.

Shareholders

Individuals or entities that own shares in a corporation, giving them certain rights such as voting on corporate matters.