Asked by
Mirna Simite
on Nov 06, 2024
Verified
An efficient economy is one that produces what consumers demand and does so at the least possible cost.
Efficient Economy
An economy where resources are allocated in the most efficient way possible, maximizing the production of goods and services without wasting resources.
- Acquire an understanding of economic efficiency.
Verified Answer
NI
Learning Objectives
- Acquire an understanding of economic efficiency.