Which of the Following Will be Accomplished by Efficient Allocations of the Factors of Production?

Which of the Following Will be Accomplished by Efficient Allocations of the Factors of Production?

A. Ensuring economic profitability

B. Fulfilling many needs and wants of society

C. Replenishment of limited resources

D. Understanding whether a product will fail

Correct Answer: B. Fulfilling many needs and wants of society.

When resources are used wisely, it helps society get what it needs and wants because we’re not wasting anything, so we can save some for later.

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