« previous next »

Author Question: Which of the following terms describes the situation in which all resources are able to move to to ... (Read 72 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?

It is believed that the Incas used anesthesia. Evidence supports the theory that shamans chewed cocoa leaves and drilled holes into the heads of patients (letting evil spirits escape), spitting into the wounds they made. The mixture of cocaine, saliva, and resin numbed the site enough to allow hours of drilling.

Did you know?

In 1844, Charles Goodyear obtained the first patent for a rubber condom.

Did you know?

Green tea is able to stop the scent of garlic or onion from causing bad breath.

Did you know?

Acute bronchitis is an inflammation of the breathing tubes (bronchi), which causes increased mucus production and other changes. It is usually caused by bacteria or viruses, can be serious in people who have pulmonary or cardiac diseases, and can lead to pneumonia.

Did you know?

Multiple sclerosis is a condition wherein the body's nervous system is weakened by an autoimmune reaction that attacks the myelin sheaths of neurons.

During their annual migration, the entire population of Arctic terns move from the Arctic Ocean in t During their annual migration, the entire population of Arctic terns move from the Arctic Ocean in t
Sibling relationships can be intense, in terms of both having fun together and engaging in conflict. Sibling relationships can be intense, in terms of both having fun together and engaging in conflict.
Frequently Used Computer Terms Frequently Used Computer Terms
How to divide imaginary terms and complex numbers How to divide imaginary terms and complex numbers
Gently squeeze along the length of each toe. Move proximal to distal. Squeeze top and bottom first, ... Gently squeeze along the length of each toe. Move proximal to distal. Squeeze top and bottom first, ...
Pelvis and knee rock. Hold the feet again for a moment, and move to the person’s right side. Place ... Pelvis and knee rock. Hold the feet again for a moment, and move to the person’s right side. Place ...
Video: Barriers - eye structures, digestive mucosa, respiratory mucosa & genitourinary mucosa

For a complete list of videos, visit our video library