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Introduction to Economics 1
Introduction to Economics 1 Deneme Sınavı
Introduction to Economics 1 Deneme Sınavı Sorusu #729409
Introduction to Economics 1 Deneme Sınavı Sorusu #729409
Which of the followings refers to "the use of scarce resources—the labor force, natural resources and land—that will yield the highest possible amount of output or the production of what people demand using the least amount of input"?
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Allocative efficiency |
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Marginal social benefit |
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Economic efficiency |
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Marginal social cost of production |
|
Utility-maximizing |
Yanıt Açıklaması:
Economic efficiency is the use of scarce resources—the labor force, natural resources and land—that will yield the highest possible amount of output or the production of what people demand using the least amount of input. Therefore, the correct option is C.
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