Which of the Following Statements Is FALSE

question 57

Multiple Choice

Which of the following statements is FALSE?

• A)Efficiency exists when an economy realizes the maximum possible gains from trade given the available resources.
• B)If an economy is efficient, it is possible to make only a few people better off without reducing other individuals' economic welfare.
• C)Economic efficiency exists when all opportunities to make people better off have been fully exploited.
• D)Markets usually lead to efficiency.

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Definitions:

Conscientiousness

A personality trait characterized by diligence, carefulness, and a desire to do a task well, often linked to reliability and self-discipline.

Extroversion

A personality trait characterized by sociability, talkativeness, assertiveness, and high levels of emotional expressiveness.

Openness

A personality trait characterized by an appreciation for new experiences, creativity, and a willingness to explore novel ideas and values.

Big 5 Personality Trait

A theory in psychology that outlines five broad dimensions of human personality: openness, conscientiousness, extraversion, agreeableness, and neuroticism.