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28 January, 22:42

An efficient economy is one that

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  1. 29 January, 00:12
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    makes the least costly use of its resources
  2. 29 January, 01:11
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    That any changes are made to assist one entity would harm another. Economic efficiency implies an economic state in which every resource is optimally allocated to serve each individual or entity in the best way while minimizing waste and inefficiency.
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