An Economic Outcome Is Said to Be Efficient If the Economy

question 17

Multiple Choice

An economic outcome is said to be efficient if the economy is

• A)using all of the scarce resources it has available.
• B)conserving on resources,rather than using all available resources.
• C)getting all it can get from the scarce resources it has available.
• D)able to produce more than what is currently being produced without additional resources.

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Definitions:

Security

The state of being free from danger or threat, often referring to measures taken to protect a country, organization, or individual against risk.

Economic Deprivation

A condition where individuals or groups are unable to access or afford the basic needs for a comfortable life, often due to a lack of financial resources.

Nonroutine Collective Action

Group actions that are spontaneous or unplanned, often in response to an event or situation that deviates from societal expectations or routines.

Lynching

Extrajudicial execution carried out by a group, bypassing legal sanction to enforce perceived justice or supremacy, often racially motivated.