If an economy is being "productively efficient," then that means the economy is
A) producing the products most wanted by society.
B) fully employing all economic resources.
C) maximizing the returns to factors of production.
D) using the least costly production techniques.

Question

Quizplus · Accepted Answer

Productive efficiency occurs when goods are produced at the lowest possible cost, meaning the economy is using the least costly production techniques.

If an Economy Is Being "Productively Efficient," Then That Means