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Okiany Riches
on Nov 17, 2024

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When society gets the most it can from its scarce resources, then the outcome is called

A) equitable.
B) efficient.
C) normal.
D) marginal.

Scarce Resources

Economic concept describing materials or services in limited availability relative to desired uses, necessitating allocation.

Efficient

In economic terms, relates to an allocation of resources in which it is impossible to make any one individual better off without making at least one individual worse off.

  • Contrast the concepts of efficiency and equality when discussing economic policy.
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JD
Joseph DapigNov 21, 2024
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