Microeconomics: Principles, Problems, & Policies, 20th Edition

Published by McGraw-Hill Education
ISBN 10: 0077660811
ISBN 13: 978-0-07766-081-9

Chapter 20 - Agriculture: Economics and Policy - Discussion Questions - Page 463: 4

Answer

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Work Step by Step

There are many aspects of economic efficiency that are very important. One of these is making sure that resources are allocated in spots that are beneficial for society. (For instance, before having enough cars, it is important to have enough farm equipment to make food.)
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