Economists define an efficient use of resources as a situation in which:
A)one person can be made better off but only by making another person worse off.
B)all persons can be made better off without making anyone worse off.
C)all persons receive an equal share of the resources.
D)all persons are made worse off when one person is made better off.

Question

Quizplus · Accepted Answer

An efficient use of resources, according to economists, is described by the concept of Pareto efficiency, where it is impossible to make any one individual better off without making at least one individual worse off. This is captured by choice A.

Economists Define an Efficient Use of Resources as a Situation