We are using resources efficiently if we can produce more of one good without producing less of some other good that we value more highly.

Name: We are using resources efficiently if we can produce more of one good without producing less of some other good that we value more highly.
Brand: Quizplus
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Question

Quizplus · Accepted Answer

Efficient resource use implies that we cannot produce more of one good without producing less of another, due to the concept of opportunity cost.

We Are Using Resources Efficiently If We Can Produce More