Which of the Following Statements Best Expresses Why Economic Efficiency

question 61

Multiple Choice

Which of the following statements best expresses why economic efficiency should be society's first goal?

• A)Efficiency gives the poor an incentive to improve their economic status.
• B)Since the consensus on what is a fair distribution of goods is impossible, efficiency is the next best goal.
• C)People are not really concerned about the problems of the poor, so government must address them instead.
• D)Efficiency maximizes total economic surplus and thereby allows other goals to be more easily achieved.

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Definitions:

Poorly Learned Tasks

Tasks that have been acquired or performed with difficulty or incompleteness, often leading to errors when attempted.

Easy Tasks

Activities or assignments that can be completed with minimal effort or difficulty, often requiring simple skills or less time to accomplish.

Social Loafing

The dynamic wherein teamwork leads to a decrease in individual effort applied towards achieving objectives, in contrast to independent work.

Groupthink

A psychological phenomenon in which people striving for consensus within a group fail to consider alternatives, leading to a dysfunctional decision-making outcome.