When the economy is getting the most from its scarce resources it is called:
A)equity.
B)efficiency.
C)equality.
D)equal shares.

Question

When the economy is getting the most from its scarce resources it is called:
A)​equity.
B)​efficiency.
C)​equality.
D)​equal shares.

Quizplus · Accepted Answer

Efficiency refers to the allocation of resources in a way that maximizes the production of goods and services. This means that resources are being used in the most optimal way possible, so that the economy is getting the most output from its scarce resources.

When the Economy Is Getting the Most from Its Scarce