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15 May, 10:13

Which of the following would further an economic goal of efficiency?

A. Government loans enabling more individuals to start businesses

B. Mandating hurricane insurance in all regions affected by hurricanes

C. Moving government contracts to companies with higher productivity

D. Raising the government subsidy on wool to stabilize farm income

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Answers (1)
  1. 15 May, 12:38
    0
    The correct answer is (C)

    Explanation:

    Economics is all about allocating limited resources to attain maximum utility. In that regard, efficiency can be achieved by giving contracts to companies with higher productivity. These companies are all about attaining maximum productivity by investing limited resource. More productivity will increase the utility, and that will improve economic efficiency. So it is critical to give projects and contracts to certain companies which can increase the overall productivity.
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