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INEFFICIENCY: When the economy is NOT obtaining the highest level of consumer satisfaction from the available resources. Inefficiency occurs if it is possible to reallocate resources in a way that would generate greater satisfaction.
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SOCIAL SCIENCE The scientific study of society--of human behavior and of social interactions. Economics is one of several social sciences. Others are sociology, political science, and anthropology. Economics is considered a social science because it seeks to explain how society deals with the scarcity problem.
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The portrait on the quarter is a more accurate likeness of George Washington than that on the dollar bill.
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"Success is more a function of consistent common sense than it is of genius. " -- An Wang, industrialist
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AID
Agency for International Development
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