Which statement is NOT a reason that markets usually lead to efficiency?
A) People are naturally efficient.
B) Individuals have incentives to offer what people want.
C) Trade encourages efficiency.
D) Inefficient firms will lose business.
Correct Answer:
Verified
Q122: Economists define an efficient use of resources
Q123: An economy is efficient when:
A)the problem of
Q124: In most cases,economic efficiency is achieved through:
A)incentives
Q125: When markets don't achieve efficiency:
A)they must achieve
Q126: When markets fail:
A)government intervention may help.
B)the market
Q128: One parent picks up the child from
Q129: Everyone benefits from street lighting,yet the marginal
Q130: The incentives built into the market economy
Q131: Which principle underlies the interaction of individual
Q132: Equity means that:
A)everyone gets an efficient share
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