A Child Who Becomes Sick During the Day Should

question 15

Multiple Choice

A child who becomes sick during the day should:

• A)be given an aspirin and allowed to rest until she feels better.
• B)be kept separate from others and sent home when her parents arrive.
• C)not be allowed to play outside.
• D)have to stay in the manager's office.

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Definitions:

Allocative Efficiency

A state of the economy in which production is in line with consumer preferences; every good or service is produced up to the point where the last unit provides a benefit to consumers equal to the cost of producing it.

Production Methods

Various techniques and processes used to create goods and services.

Allocative Efficiency

A state of the economy in which production represents consumer preferences; specifically, every good or service is produced up to the point where the last unit provides a marginal benefit to society equal to the marginal cost of producing it.

Production Possibilities Curve

A visual diagram illustrating the highest potential production mixes of two products or services that an economy can reach when it uses all its resources in a completely efficient manner.