uses its resources to make the most goods and services.
The economy is efficient only when it has achieved full employment and full production
to make the economy more effective and efficient
it makes it more efficient
What are two reasons why a centrally planned economy tend to be less efficient than a market base economy
uses its resources to make the most goods and services.
The economy is efficient only when it has achieved full employment and full production
to make the economy more effective and efficient
it makes it more efficient
What are two reasons why a centrally planned economy tend to be less efficient than a market base economy
A production possibilities curve illustrates how efficient an economy is by indicating the possibly opportunities in the economy. This will also illustrate the relevant costs entailed in the production.
It makes the economy stronger and more efficient.
to use the system in a wise manner
technology
Surplus goods refers to the profit made in an economy, these goods could be any number of things eg money, resources .... Surplus goods are the result of an efficient economy usually one that is a free market economy
efficient
American Council for an Energy-Efficient Economy