Inefficiency exists in an economy when a good is
a. being produced with less than all available resources.
b. not distributed fairly among buyers.
c. not being produced by the lowest-cost producers.
d. being consumed by buyers who value it most highly.
c
Economics
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The most fundamental concepts underlying the discipline of economics are:
a. scarcity and choice. b. supply and demand. c. money, stocks, and bonds. d. inflation and unemployment.
Economics
Recent studies suggest that a rise in the minimum wage results in a substantial cut in the demand for teen labor
a. True b. False Indicate whether the statement is true or false
Economics