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Economic efficiency: Quiz

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Question 1: An ________ is more efficient if it can provide more goods and services for society without using more resources.
Political systemComplex systemEconomic systemTalcott Parsons

Question 2: [2] The first fundamental welfare theorem provides some basis for this belief, as it states that any perfectly competitive ________ is efficient (but only if no market imperfections exist).
Economic equilibriumKeynesian economicsMicroeconomicsSupply and demand







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