The Text Indicates That Children Need _________ to Develop Their

question 62

Multiple Choice

The text indicates that children need _________ to develop their intellectual potential.

• A)smart and well-educated parents
• B)a safe and stimulating environment
• C)to go to preschool for at least a year
• D)interaction with other children

---

Definitions:

Initial Endowment

The initial allocation of resources, goods, or wealth that individuals or firms possess before engaging in exchanges or production.

Pareto Efficient Allocations

refers to an economic situation where no individual can be made better off without making someone else worse off.

First Theorem of Welfare Economics

A principle stating that, under perfect competition and with no externalities, the allocation of resources where supply equals demand leads to a Pareto efficient outcome.

Competitive Equilibrium

A state in a market where supply equals demand, with price acting as the balancing factor, and all economic agents are optimizing their outcomes.