All categories

3 years ago

________ occurs when production is in accordance with consumer preferences.

Business

1 answer:

Alika [10]3 years ago

7 0

Answer:

The correct answer is Allocative efficiency.

Explanation:

Although there are different evaluation standards for the concept of allocation efficiency, the basic principle states that, in any economic system, the different options in the allocation of resources will produce both "winners" and "losers" in relation to the choice being evaluated. The principles of rational choice theory, individual maximization, utilitarianism and market theory assume, in addition, that the results for both winners and losers can be identified, compared and measured.

From these basic premises, the objective of maximizing the efficiency in the allocation can be defined according to some neutral principle in which some options are considered “objectively better than others”. For example, an economist might say that a change in policy increases the efficiency of allocation, as long as those who benefit from the change (winners) earn more than the losers lose.

------

NOTE: If you need to extend the explanation given, you can make a comment or add a new question. I will be very pleased to help you.

You might be interested in

Which is a commonly used resource for international ethical guidelines for human subjects research?

Andrei [34K]

Answer:

CIOMS International Ethical Guidelines for Biomedical Research Involving Human Subjects

Explanation:

International Ethical Guidelines for Health-related Research Involving Humans are prepared by the Council for International Organizations of Medical Sciences (CIOMS) in collaboration with the World Health Organization (WHO) . The ethical justification for undertaking health-related research involving humans is its scientific and social value: the prospect of generating the knowledge and the means necessary to protect and promote people’s health. Patients, health professionals, researchers, policy-makers, public health officials, pharmaceutical companies and others rely on the results of research for activities and decisions that impact individual and public health, welfare, and the use of limited resources. Therefore, researchers, sponsors, research ethics committees, and health authorities, must ensure that proposed studies are scientifically sound, build on an adequate prior knowledge base, and are likely to generate valuable information.

4 0

3 years ago

Here's the revenue and expenses for the month. Calculate whether Mia had a profit or loss.

kherson [118]

Answer:

Loss

Explanation:

Because she started with 860.00 then ended with 300

4 0

3 years ago

Congress passes a law that regulates the amount of lettuce that can be grown on a farm. Milton is a farmer who grows lettuce. He

Yuliya22 [10]

Answer:

The answer is: A) Declare the law constitutional because Milton's actions substantially affect interstate commerce.

Explanation:

The Commerce Clause, Article I, Section 8, Clause 3 of the Constitution of the United States:

[The Congress shall have Power] To regulate Commerce with foreign Nations, and among the several States, and with the Indian Tribes.

Congress can enact laws that regulate interstate commerce, and this law is an example of one of them. It doesn't matter if Milton's action only affect commerce in a very small way, the law is still constitutional.

6 0

3 years ago

Blinding Light Co. has a project available with the following cash flows: Year Cash Flow 0 −$33,790 1 8,210 2 9,890 3 14,120 4 1

oksano4ka [1.4K]

Answer: 20.15%

Explanation:

The IRR is the discount rate that makes brings the Net Present Value to zero.

It can be solved for by various means including using Excel as shown in the attached file.

Year 0 -33790

Year 1 8,210

Year 2 9,890

Year 3 14,120

Year 4 15,930

Year 5 10,820

= IRR (-33,790 , 8,210 , 9,890 , 14,120 , 15,930 , 10,820 )

= 20.15%

4 0

3 years ago

A ________ nation is one with unstable leadership, whose policies are driven by ideology rather than by economic or human costs

kirill [66]

The answer to the nation who is one with unstable leadership, whose policies are driven by ideology rather than by economic or human costs and benefits is the rogue nation. Also the rogue nation does not respect other nations and even the other countries in its international actions.

8 0

3 years ago