Productive ________ is/are considered an indicator of social benefit.
A) allocation
B) efficiency
C) capacity
D) margins
E) demand

Question

Quizplus · Accepted Answer

Productive efficiency is the ability of an economy or firm to produce maximum output from its available inputs, such as labor and capital. When an economy or firm operates at productive efficiency, it is using its resources in the most efficient way possible, and this is considered an indicator of social benefit because it means that more goods and services are being produced with fewer resources, which can lead to lower prices and higher standards of living for consumers.

Productive ________ Is/are Considered an Indicator of Social Benefit