Inefficiency Exists in an Economy When a Good Is

question 68

Multiple Choice

Inefficiency exists in an economy when a good is

• A)being produced with less than all available resources.
• B)not distributed fairly among buyers.
• C)not being produced by the lowest-cost producers.
• D)being consumed by buyers who value it most highly.

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Definitions:

Toilet Training

The process of teaching a young child to control their bladder and bowel movements and use the toilet.

Bladder Elimination

The process of discharging urine from the body, a key function of the urinary system.

Superego

The component of the human psyche in Freudian psychoanalysis that represents internalized societal standards of right and wrong.

Identification

A psychological process in which an individual assimilates aspects, properties, or attributes of another person and is transformed, wholly or partially, by the model the other provides.