Exhibit 2-4 
-Which of the following points in Exhibit 2-4 represents an inefficient use of the economy's resources?
Definitions:
Inflation
The rate at which the general level of prices for goods and services is rising, subsequently eroding purchasing power.
Bargaining Power
The capacity of one party to influence the terms and conditions of an agreement in its favor during negotiations with another party.
Price Concessions
Adjustments made to the original price of a good or service in response to negotiating tactics or market demands.
Buyer
An individual or entity that acquires goods or services in exchange for money or other forms of payment.
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