Help If you are producing goods and services efficiently, what does that mean in terms of resources?

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asked May 20, 2022 142k views

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AAAton · Answer 1 · 2022-05-27T15:35:38+0000

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Understanding Economic Efficiency When an economy is economically efficient, any changes made to assist one entity would harm another. In terms of production, goods are produced at their lowest possible cost, as are the variable inputs of production.

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Help If you are producing goods and services efficiently, what does that mean in terms of resources?

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Help If you are producing goods and services efficiently, what does that mean in terms of resources?