Reading...
Play button
Play button
Use LEFT and RIGHT arrow keys to navigate between flashcards;
Use UP and DOWN arrow keys to flip the card;
H to show hint;
A reads text to speech;
3 Cards in this Set
- Front
- Back
|
Allocative Efficiency |
Allocative efficiency means producing the goods and services that maximise satisfaction and to match the preferences of consumers. |
|
|
Productive Efficiency |
Productive efficiency involves minimising cost to produce as much as possible from the available resources. |
|
|
Scare Resourses |
Infinite wants and needs but finite resources. |
