Examlex
The electrolytes that are part of bones and teeth are ____________________ and ____________________.
Efficient Allocation
The distribution of resources in a way that maximizes the net benefit received by an economy.
Allocative Efficiency
A state of the economy where resources are apportioned in a way that maximizes the overall benefit to society.
Productive Efficiency
A state where an economy or entity cannot produce more of one good without producing less of another, utilizing all resources in the best possible way without waste.
Economic Profit
The difference between total revenue and the total opportunity costs (both explicit and implicit) of all resources used.
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