Question

Addressing the goal of _____ provides assurance that goods and services will be available and payments will be made on time.

economic efficiency

economic equity

economic security and predictability

economic growth and innovation

Answer 1

The correct answer is A) economic efficiency.

Addressing the goal of economic efficiency provides assurance that good and services will be available and payments will be on time.

In modern economies, the markets exist because there is a variety of products and services that are offered to the consumer. Economic efficiency exits when in an economy every resource is allocated correctly for the benefit of the process and it minimizes the waste of resources and time. So, it is correct when we say that addressing the goal of economic efficiency provides assurance that good and services will be available and payments will be on time.