The purchase of the economy's expanding goods and services by households, businesses, and the government is known as the

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22-07-2022
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The purchase of the economy's expanding goods and services by households, businesses, and the government is known as the

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sakshigupta4990 sakshigupta4990 · Answer 1 · 2022-07-30T14:56:09+02:00

The purchase of the economy's expanding goods and services by households, businesses, and the government is known as the factor.

Economic efficiency means an economic state in which all resources are optimally allocated to best serve each individual or entity while minimizing waste and inefficiency. If the economy is economically efficient, changes made to help one company will harm another.

A compound economy means that producing one good reduces the cost of producing another related good. Economies of scope occur when it is less expensive for a firm to produce more types of goods or services together than it is to produce fewer types of goods or each good individually.

Learn more about the economy's expansion at

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