When society gets the most it can from its scarce resources,then the outcome is called
A)equitable.
B)efficient.
C)normal.
D)efficacious.

Question

Quizplus · Accepted Answer

When society gets the most it can from its scarce resources, it is considered efficient. Efficiency means achieving the maximum level of output from a given set of resources. It is an important concept in economics, as it is the foundation of economic growth and development. When an economy is efficient, it can produce more goods and services with fewer resources, which results in higher standards of living for the population.

When Society Gets the Most It Can from Its Scarce