It is cheaper to produce corn in Quebec,because corn needs a lot of water and moderate temperatures.Which economic concept does this statement BEST represent?
A) Government policies can change spending.
B) Markets move toward equilibrium.
C) Resources should be used as efficiently as possible to achieve society's goals.
D) One person's spending is another person's income.

Question

Quizplus · Accepted Answer

This statement represents the economic concept of efficiency in resource use, as it highlights the advantage Quebec has in producing corn due to its climate and natural resources. By producing corn in the area where it is most efficient, resources are used optimally to achieve society's goals of producing food at lower cost.

It Is Cheaper to Produce Corn in Quebec,because Corn Needs