Asked by bae
Which of the following will be accomplished by efficient allocations of the factors of production?
guaranteeing economic success
understanding whether a product will fail
fulfilling many needs and wants of society
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Fulfilling many needs and wants of society.
Efficient allocation of factors of production means using resources where they yield the highest value, increasing output and satisfaction—but it does not guarantee economic success or predict whether a particular product will fail.
Efficient allocation of factors of production means using resources where they yield the highest value, increasing output and satisfaction—but it does not guarantee economic success or predict whether a particular product will fail.
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