An Efficient Economy Is an Economy

question 209

Multiple Choice

An efficient economy is an economy

• A) in which output is steady or growing and there is low inflation.
• B) that produces what consumers demand and does so at the least possible cost.
• C) that distributes output equally among all consumers.
• D) in which there is a fair distribution of wealth.

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Definitions:

Core Competencies

Unique abilities or strengths of an organization that provide competitive advantage and cannot be easily imitated by others.

Target Markets

These are specific groups of consumers or organizations a business aims to serve or sell its products and services to.

SWOT Analysis

A strategic planning tool that assesses an organization's strengths, weaknesses, opportunities, and threats.

Internal Issues

Problems or challenges that arise within an organization, affecting its functioning or performance.