ECONOMICS
TRADE EXCHANGE AND INTERDEPENDENCE
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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spend more than it makes
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print more money
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generate more than it produces
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produce more than it consumes
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Detailed explanation-1: -When an economy is economically efficient, any changes made to assist one entity would harm another. In terms of production, goods are produced at their lowest possible cost, as are the variable inputs of production.
Detailed explanation-2: -Flow production The production method is financially the most efficient and effective because there is less of a need for skilled workers.
Detailed explanation-3: -Which of the following allow the economy to achieve a higher rate of economic growth? Stronger productivity growth and heightened global competition.
Detailed explanation-4: -Economic growth is an increase in the production of goods and services in an economy. Increases in capital goods, labor force, technology, and human capital can all contribute to economic growth.