Ask Question
BusinessBusiness
7 November, 23:42

What is meant by allocative efficiency? allocative efficiency is when every good or service?

+4
Answers (1)
  1. 8 November, 00:43
    0
    Allocative efficiency is the state of the economy in which production suits consumer needs and preferences. Every good or service produced holds value. Even the last unit is able to serve the customer and satisfy them, but the product must also maintain an equal balance between cost effectiveness and user satisfaction.
Know the Answer?
Not Sure About the Answer?
Get an answer to your question ✅ “What is meant by allocative efficiency? allocative efficiency is when every good or service? ...” in 📙 Business if there is no answer or all answers are wrong, use a search bar and try to find the answer among similar questions.
Search for Other Answers
You Might be Interested in
Describe at least three risks a company might face if it participates in global trade.
Answers (1)
After WWII, which synthetic fabric began appearing in casual clothing? a. linen b. silk c. spandex d. cotton
Answers (2)
Suppose that demand for a good increases and, at the same time, supply of the good decreases. what would happen in the market for the good?
Answers (1)
Hodgkiss corporation is evaluating an extra dividend versus a share repurchase. in either case, $27,000 would be spent. current earnings are $2.70 per share, and the stock currently sells for $96 per share. there are 4,500 shares outstanding.
Answers (1)
Starting last December, one of the three major credit-score trackers, Experian, added paying monthly rent as one of its criteria for calculating a credit score.
Answers (1)
New Questions in Business
Miles uses the allowance method and wrote off the account of james. miles then received $559 as partial payment on the account of james. the journal entry to record the initial write-off includes? a
Answers (1)
U. S. Interest Rates during the Credit Crisis During the credit crisis, U. S. interest rates were extremely low, which enabled businesses to borrow at a low cost.
Answers (1)
The following production data were taken from the records of the finishing department for June:Inventory in process, June 1, 25% completed 1,500 unitsTransferred to finished goods during June 5,000 unitsEquivalent units of production during June
Answers (1)
Your insurance agent is trying to sell you an annuity that costs $75,000 today. By buying this annuity, your agent promises that you will receive payments of $500 per month for 20 years.
Answers (1)
James is an auditory learner. what is the best way for him to process his notes
Answers (2)
Home » Business » What is meant by allocative efficiency? allocative efficiency is when every good or service?
Sign Up Forgot Password?