An Inefficient Allocation of Resources Will Occur When

question 203

Multiple Choice

An inefficient allocation of resources will occur when:

• A)decision makers are faced with the full costs and benefits of their actions.
• B)there are clearly defined property rights.
• C)no alternative would increase the welfare of society.
• D)decision makers are not faced with the full benefits and costs of their choices.

---

Definitions:

Bias

A tendency to lean in a certain direction, often to the detriment of an open mind; prejudice.

Extreme Language

The use of exaggerated, intense, or absolute terms in communication.

Personal Beliefs

Individual convictions or acceptances that something exists or is true, especially without proof.

Political Agendas

The set of underlying motivations or goals that guide the actions and policies of political figures or parties.