Economic Issues – Dilemma of Fuller and Efficient Utilization of Resources

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Difficulty of Fuller and Efficient Utilization of Resources

A very momentous question that can be asked about the working of an economy is:

  • Are the resources being used efficiently?
  • Is the utilization of the resources done correctly?

 

Since Resources are rare, it is definitely fascinating that they must be most methodically used, i.e.,

 

  • The manufacturing and circulation of the national commodity should be done precisely.
  • Production is called to be adequate, if it is not achievable to manufacture more than one good without contracting the result of other items in the economy.
  • The circulation is adequate if it is not desirable to make anyone person/persons better off without creating any other person/persons worse off through any recirculation system.
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