Which Tools Allow Economists to Determine If the Allocation of Resources

question 88

Multiple Choice

Which tools allow economists to determine if the allocation of resources determined by free markets is desirable?

• A)profits and costs to firms
• B)consumer and producer surplus
• C)the equilibrium price and quantity
• D)incomes of and prices paid by buyers

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Definitions:

Associative Learning

A learning process by which an individual comes to link certain stimuli and responses, leading to changes in behavior.

Long-Term Potentiation

A long-lasting increase in signal transmission between two neurons that results from their simultaneous activation, believed to be a mechanism that underlies learning and memory.

Dining Hall

A large room where meals are served and eaten, typically found in institutions like schools, colleges, or hostels.

Modeling

The process of learning behaviors by observing and imitating others.