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the resources are utilized efficiently to produce socially useful goods without taking the profit margin into account

Principles of Economics 2e

2nd Edition

ISBN:9781947172364

Author:Steven A. Greenlaw; David Shapiro

Publisher:Steven A. Greenlaw; David Shapiro

Chapter2: Choice In A World Of Scarcity

Section: Chapter Questions

Problem 21CTQ: It is clear that productive inefficiency is a waste since resources are used in a way that produces...

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Under __________, the resources are utilized efficiently to produce socially useful goods without taking the profit margin into account. a. Capitalist economy b. Socialist economy c. Market economy d. Mixed economy

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