Resource use is efficient when production is such that marginal social benefit is …….
Select ONE answer:
- equal to the marginal social cost
- greater than the marginal social cost
- at its maximum value
- less than the marginal social cost
Explain the functions of the price mechanism to allocate resources: rationing, incentives, signaling:……………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………
This is a multiple choice question is suitable for Economics KS5 classes.
The answer is 1
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