At a Free Market Equilibrium There Are No Unexploited Gains

question 80

True/False

At a free market equilibrium there are no unexploited gains from trade.

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Definitions:

Physical Capital

Assets used in the production process that are tangible, such as buildings, machinery, and equipment.

Social Overhead Capital

Publicly funded infrastructure that supports economic activity, such as highways, schools, and hospitals.

Human Capital

The skills, knowledge, and experience possessed by an individual or population, viewed in terms of their value or cost to an organization or country.

Flood Embankments

Structures built near rivers or coastlines to prevent or reduce the risk of flooding in adjacent land areas; typically earth or concrete barriers.