An economy is efficient if it is:

A) possible to produce more of all goods and services.
B) possible to produce more of one good without producing less of another.
C) not possible to produce more of one good without producing less of another good.
D) producing a combination of goods.

Efficient

Refers to a level of performance that uses the least amount of inputs to achieve the highest amount of output.

Goods and Services

Goods and services constitute the output produced by an economy, with goods being tangible items and services being intangible offerings that value to consumers.