The marginal productivity principle has some relevance to organizing production in a socialist society.

Question

Quizplus · Accepted Answer

The marginal productivity principle suggests that resources should be allocated according to their marginal productivity, meaning that additional units of inputs should be added until the marginal productivity diminishes. This principle can be applied in a socialist society to determine how resources should be allocated in order to maximize efficiency and output.

The Marginal Productivity Principle Has Some Relevance to Organizing Production