Economists Define an Efficient Use of Resources as a Situation

question 138

Multiple Choice

Economists define an efficient use of resources as a situation in which:

• A)one person can be made better off but only by making another person worse off.
• B)all persons can be made better off without making anyone worse off.
• C)all persons receive an equal share of the resources.
• D)all persons are made worse off when one person is made better off.

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Definitions:

Kansas-Nebraska Act

An 1854 U.S. law that created the territories of Kansas and Nebraska, leaving the decision of slavery to the residents, which led to a violent conflict known as "Bleeding Kansas."

Far-Reaching Consequences

Outcomes or effects of an action, decision, or event that have a wide-ranging impact, affecting many areas or people beyond the immediate context.

Abraham Lincoln

The 16th president of the United States (1861-1865) who led the country during the Civil War, preserved the Union, and issued the Emancipation Proclamation, which began the process of freedom for America's slaves.

John Brown

A white American abolitionist who believed in and advocated for armed insurrection as the only way to overthrow the institution of slavery in the United States.