An economic outcome is said to be efficient if the economy is:

Question

Quizplus · Accepted Answer

Economic efficiency refers to a situation where an economy produces goods and services in the most efficient way possible, such that no one can be made better off without making someone else worse off. It means using scarce resources in a way that maximizes the benefits to society. Therefore, option C is the correct answer as it implies that the economy is using all the scarce resources it has in the most productive way possible. Options A, B, and D do not necessarily imply efficient use of resources.

An Economic Outcome Is Said to Be Efficient If the Economy