An Outcome Is Said to Be Efficient If an Economy

question 1

True/False

An outcome is said to be efficient if an economy is getting all it can from the scarce resources it has available.

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Definitions:

Age Group

A categorization of humans based on their age, often used in studies and surveys to differentiate between populations.

Adopted Children

Children who have been legally taken into a family different from their birth family, gaining new parents and sometimes siblings.

Biological Parents

The biological or birth parents are the individuals who have genetically contributed to the creation of a child.

Intellectual Development

The process of developing mental capacities and cognitive functions, including problem-solving, reasoning, and understanding.