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Autumn Eyman
on Nov 05, 2024

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An activity that makes some people better off and nobody worse off is a

A) government transfer program such as Social Security.
B) reduction in interest rates.
C) price floor that increases income to suppliers.
D) voluntary exchange.

Voluntary Exchange

A transaction where two parties trade goods or services by mutual agreement and benefit.

Better Off

A term used to describe a situation in which an individual, household, or group has improved economically, often as a result of higher income, greater wealth, or access to more goods and services.

People

Human beings collectively, considered as the members of a community, society, or workforce.

  • Familiarize oneself with the idea of Pareto efficiency and its relevance to willing exchanges.
  • Grasp the concept of voluntary exchange and its role in enhancing societal welfare.
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Dr Priyanka SharmaNov 10, 2024
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