The efficient allocation of resources requires:

Question

Quizplus · Accepted Answer

The efficient allocation of resources requires that prices reflect the relative value of goods and services. This means that goods and services that are more valuable should have higher prices, while those that are less valuable should have lower prices. This enables consumers to make informed choices and encourages producers to allocate resources towards the production of goods and services that are in higher demand, resulting in a more efficient use of resources. Inflation, deflation, or constant prices do not necessarily ensure an efficient allocation of resources.

The Efficient Allocation of Resources Requires