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An economic system describes how and why resources are transformed into GOODS and SERVICE to satisfy human consumption needs. We call such a system efficient (efficient allocation of resources) when it satisfies what two fundamental objectives?

Respuesta :

Answer:

Minimizing waste

Pareto efficiency

Explanation:

- This is a situation where waste from allocation of goods is reduced to the nearest minimum.

- This is when every economic good is optimally allocated across production and consumption so that no changes made to allocation can make any body better.

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