« previous next »

Author Question: Which of the following terms describes the situation in which all resources are able to move to to ... (Read 63 times)

jenna1

  • Hero Member
  • *****
  • Posts: 568
on: Jun 29, 2018
Which of the following terms describes the situation in which all resources are able to move to to highest-valued uses via voluntary exchange?
 
  A) government intervention
  B) a market failure
  C) economic efficiency
  D) an externality

Question 2

Explain the study of economics.
 
  What will be an ideal response?


bblaney

  • Sr. Member
  • ****
  • Posts: 323
Reply #1 on: Jun 29, 2018
Answer to Question 1

C

Answer to Question 2

Economics is the study of how people allocate their limited resources in an attempt to satisfy their unlimited wants. Because of this contrast between limited resources and unlimited wants, economics is the study of how people make choices.


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question

jenna1

  • Hero Member
  • *****
  • Posts: 568
Reply #2 on: Jun 29, 2018
Thank you :)


bblaney

  • Sr. Member
  • ****
  • Posts: 323
Reply #3 on: Jun 29, 2018
Happy to help you


« previous next »
 

Did you know?

Oxytocin is recommended only for pregnancies that have a medical reason for inducing labor (such as eclampsia) and is not recommended for elective procedures or for making the birthing process more convenient.

Did you know?

Thyroid conditions cause a higher risk of fibromyalgia and chronic fatigue syndrome.

Did you know?

In most cases, kidneys can recover from almost complete loss of function, such as in acute kidney (renal) failure.

Did you know?

Amphetamine poisoning can cause intravascular coagulation, circulatory collapse, rhabdomyolysis, ischemic colitis, acute psychosis, hyperthermia, respiratory distress syndrome, and pericarditis.

Did you know?

Human neurons are so small that they require a microscope in order to be seen. However, some neurons can be up to 3 feet long, such as those that extend from the spinal cord to the toes.

English and Dani basic color terms. English and Dani basic color terms.
Surface Water Resources Surface Water Resources
Commonly Misspelled Medical Terms Commonly Misspelled Medical Terms
Warming friction using the knuckles. The first two knuckles move back and forth on the skin to ... Warming friction using the knuckles. The first two knuckles move back and forth on the skin to ...
A dose-response curve describes the relationship between the quantity of the chemical entering the ... A dose-response curve describes the relationship between the quantity of the chemical entering the ...
Water resources Water resources
Video: Genetics of Cancer

For a complete list of videos, visit our video library