Efficiency means that
A)society is conserving resources in order to save them for the future.
B)society's goods and services are distributed equally among society's members.
C)society's goods and services are distributed fairly, though not necessarily equally, among society's members.
D)society is getting the most it can from its scarce resources.

Question

Quizplus · Accepted Answer

Efficiency in economics refers to the optimal production and distribution of resources, meaning society is maximizing the output or benefits from its limited resources. This does not necessarily involve conservation for the future (A), equal distribution (B), or fair distribution (C), but rather making the best use of what is available now.

Efficiency Means That