If an Economy Has NOT Achieved Efficiency,there Must Be Ways

question 12

Multiple Choice

If an economy has NOT achieved efficiency,there must be ways to:

• A)increase opportunity costs.
• B)eliminate inequity.
• C)make some people better off without making others worse off.
• D)increase the incentives for its citizens to follow their own self-interest.

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Definitions:

Revenues Journal

A record of sales and income transactions, typically used in accounting to track and manage revenue generation.

Cash Receipts Journal

An accounting journal used to record all cash inflows or money received by the business.

All-purpose Journal

A general ledger used in accounting to record financial transactions that do not fit specifically into other specialized journals.

Purchases Journal

A record where a business notes all purchases of goods intended for resale or use in production, particularly on credit.