Social efficiency is attained when ________.

Question

Quizplus · Accepted Answer

Social efficiency is achieved when aggregate well-being is maximized. This means that the benefits of economic activity are distributed fairly among all members of society and that resources are allocated efficiently to satisfy the needs and wants of consumers. In other words, social efficiency means producing the optimal amount of goods and services to meet society's needs and wants, while minimizing waste and negative externalities.

Social Efficiency Is Attained When ________