When Production Reflects Consumer Preferences, ________ Occurs

question 34

Multiple Choice

When production reflects consumer preferences, ________ occurs.

• A)allocative efficiency
• B)productive efficiency
• C)equity
• D)efficient central planning

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Definitions:

Product

Anything that can be offered to a market to satisfy the want or need of a customer.

Cash Budget

A financial plan that forecasts the cash inflows and outflows over a specific period, typically used to assess liquidity and manage cash effectively.

Budgeted Disbursements

Projected payments planned by a company for various expenses.

Desired Balance

The optimal amount of funds an individual or business aims to maintain in an account.