An economy is judged efficient if
A)it is good at producing what people want.
B)it produces things that people may not want but in the least wasteful way.
C)produces whatever people want in a way that may not be the least wasteful.
D)it is a free-market economy and not a command market.

Question

Quizplus · Accepted Answer

An economy is considered to be efficient if it is producing goods and services that people want or demand. This means that the resources are being allocated in a way that maximizes the satisfaction of consumers. It does not necessarily have to be the least wasteful way, but it should be producing the goods and services that are in demand in the most efficient way possible.

An Economy Is Judged Efficient If