_____ occurs when goods and services are produced with as few resources as possible, while _____ occurs when the mix of goods and services produced is the most desired by society.
A) Allocative efficiency; production efficiency
B) Production efficiency; social efficiency
C) Allocative efficiency; social efficiency
D) Production efficiency; allocative efficiency
Correct Answer:
Verified
Q31: When society produces the mix of goods
Q64: Which statement about entrepreneurs is NOT correct?
A)
Q65: All of these are considered human capital,
Q66: When a society is producing the mix
Q68: _ combine land, labor, and capital to
Q69: Capital includes all of these EXCEPT:
A) dollar
Q229: Which pair does NOT relate?
A) capital -
Q243: Production efficiency is described as
A) goods and
Q305: Capital
A) refers to commercial bank-lending policies.
B) is
Q313: Economists refer to the payment to labor
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