It is necessary for all economic systems to provide people with goods and services and also restrict them from getting as much of these goods and services as they wish,because failure to do this could ________ the efficiency of the system by producing some goods and services that are ________.
A)reduce; not as highly valued as others
B)increase; not as highly valued as others
C)reduce; valued more than others
D)increase; valued more than others

Question

Quizplus · Accepted Answer

Economic systems need to provide people with goods and services to meet their basic needs and wants. However, if people are allowed to consume unlimited amounts of goods and services, resources will be depleted and the production of certain goods and services will become less efficient. By restricting the consumption of goods and services, economic systems can ensure that resources are used efficiently and that the goods and services produced are the most highly valued by consumers. Thus, choice A is the best option as it correctly identifies the need for restrictions to maintain efficiency and the potential for some goods and services to be less highly valued than others.

It Is Necessary for All Economic Systems to Provide People