Ensuring That the Optimal Mix of Goods and Services Is

question 72

Multiple Choice

Ensuring that the optimal mix of goods and services is produced is known as:

• A) allocative efficiency.
• B) allocative effectiveness.
• C) productive efficiency.
• D) productive effectiveness.

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Definitions:

Tautology

A statement that is true by necessity or by virtue of its logical form, often repeating the same idea or statement using different words.

Conjunct

An element of a conjunction, which is a compound statement formed by combining two or more statements with the connective "and."

Conjunction

In logic, a compound statement formed by combining two statements with the word "and," requiring both to be true.

Tautology

A statement that is true by necessity or by its logical form, independent of the truth values of its components.