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Luden [163]
3 years ago
6

The distinction between efficiency and equality can be described as follows:

Business
1 answer:
larisa [96]3 years ago
5 0

Answer:

The correct answer is the letter b. Efficiency refers to maximizing the size of the pie; equality refers to distributing the pie fairly among members of society.

Explanation:

Efficiency is about maximizing production while minimizing costs, ie producing as much as possible with available resources. Equality refers to the distribution of production, that is, the division into economically considered fair parts of what was produced among the agents of society. In the example, efficiency would be to produce the largest pie possible given the existing resources. Equality would be the distribution of the pie considered socially fair.

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Answer:

D) being unable to engage in all three of the above activities.

Explanation:

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So all the three activities represent the opportunity cost of attending afternoon class.

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What are the characteristics of a mixed economy?
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The table of the cash flow is shows in the picture

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What would be the best time for a person to buy a franchise?
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