In Thailand, the land, labor, and capital in society are used to exploit all opportunities to make everyone better off. This statement best represents this economic concept:
A)Markets move toward equilibrium.
B)Resources should be used as efficiently as possible to achieve society's goals.
C)Markets usually lead to efficiency.
D)When markets don't achieve efficiency, government intervention can improve society's welfare.

Question

Quizplus · Accepted Answer

The statement suggests that Thailand's economic system strives to use resources (land, labor, and capital) as efficiently as possible to benefit everyone in society. This aligns with the economic concept that resources should be used as efficiently as possible to achieve society's goals.

In Thailand, the Land, Labor, and Capital in Society Are