Resources are allocated efficiently when
A) everyone can afford what they want.
B) production occurs at least cost.
C) output is fairly distributed.
D) profits are maximized.

Question

Quizplus · Accepted Answer

Efficient allocation of resources means that goods and services are produced at the lowest possible cost, which corresponds to choice B. This involves using resources where they are most valued and can be utilized in the most productive manner.

Resources Are Allocated Efficiently When