An efficient outcome in economics is one in which the economy is conserving the largest possible amount of resources, while still meeting the needs of society.

Question

Quizplus · Accepted Answer

An efficient outcome in economics is one where resources are allocated in a way that maximizes the net benefit to society, not necessarily conserving the largest possible amount of resources. Efficiency is about optimal allocation rather than conservation.

An Efficient Outcome in Economics Is One in Which the Economy