Asked by mikell brown on Jun 05, 2024
Verified
According to economists, gift registries, returning gifts for cash refunds, and "recycling gifts"
A) are inefficient because the time spent in these activities is never worth the benefit recipients receive from doing them.
B) are equally efficient because the recipient gets exactly what he wants.
C) are more efficient than if givers simply gave cash gifts.
D) increase the efficiency of gift-giving because they allow the recipient to consume goods that provide greater utility and transfer away those goods that are less satisfying.
Gift Registries
Services that allow individuals to communicate their preferred gifts for special occasions like weddings, baby showers, or birthdays to potential gift-givers.
Recycle Gifts
The act of giving previously owned items as gifts, an environmentally friendly practice that reduces waste and promotes sustainability.
Efficiency
The degree to which resources are used optimally to produce goods and services, minimizing waste and maximizing output.
- Grasp the economic logic that underlies the activities of gift-giving, theft, and market participation.
Verified Answer
ZK
Zybrea KnightJun 07, 2024
Final Answer :
D
Explanation :
Gift registries, returning gifts for cash, and recycling gifts increase efficiency by ensuring recipients get items they value more, thus maximizing utility and satisfaction from the gift exchange process.
Learning Objectives
- Grasp the economic logic that underlies the activities of gift-giving, theft, and market participation.