Question
If an economy is producing inefficiently, it is
a. not possible to increase economic growth.
b. not possible to increase production of any good.
c. possible to increase production with no effort.
d. possible to increase production of one good at the expense of another.
e. possible to increase production of all goods simultaneously.
a. not possible to increase economic growth.
b. not possible to increase production of any good.
c. possible to increase production with no effort.
d. possible to increase production of one good at the expense of another.
e. possible to increase production of all goods simultaneously.
Ask by Bradley Murray. in the United States
Mar 21,2025
Upstudy AI Solution
Tutor-Verified Answer
Answer
It’s possible to increase the production of one good by reducing the production of another in an inefficient economy.
Solution
To analyze the options regarding an economy producing inefficiently, let’s break down the implications of inefficiency in economic production:
- Inefficient Production: This means that the economy is not utilizing its resources to their full potential. There are resources that could be better allocated to increase output.
Now, let’s evaluate each option:
a. Not possible to increase economic growth.
- This is incorrect. Inefficient production means there is room for improvement, which can lead to economic growth.
b. Not possible to increase production of any good.
- This is also incorrect. Since the economy is inefficient, it can increase production by reallocating resources.
c. Possible to increase production with no effort.
- This is misleading. While it may be possible to increase production, it typically requires some effort to reallocate resources effectively.
d. Possible to increase production of one good at the expense of another.
- This is correct. In an inefficient economy, resources can be reallocated to increase the production of one good, but it may require reducing the production of another good.
e. Possible to increase production of all goods simultaneously.
- This is generally not true in the context of inefficiency. While there may be some potential for overall improvement, it is not guaranteed that all goods can be produced more without trade-offs.
Based on this analysis, the best answer is:
d. possible to increase production of one good at the expense of another.
Answered by UpStudy AI and reviewed by a Professional Tutor
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Simplify this solution Beyond the Answer
Producing inefficiently means that resources are not being utilized to their full potential, which leaves room for improvement. This means that, in fact, it is possible to increase production without any additional effort, suggesting that the economy could allocate its resources better to boost output without necessitating more inputs or investment!
In this fascinating realm of economics, addressing inefficiency could allow various goods to be produced more effectively. By reallocating resources, one could potentially increase the production of one good at the expense of another, reflecting the trade-off often inherent in resource management and allocation even in an inefficient system.
