_____ is how well resources are used and allocated.
A) Equity
B) Efficiency
C) Choice
D) Scarcity

Question

Quizplus · Accepted Answer

Efficiency refers to how effectively resources are utilized and allocated. It is a key factor in determining economic growth and the standard of living in a society. By ensuring that resources are used in the most productive way possible, efficiency helps to minimize waste and maximize output, leading to increased prosperity and a higher quality of life for individuals and communities.

_____ Is How Well Resources Are Used and Allocated