Answer:
Economic efficiency - important because it allows businesses to reduce their costs and increase output.
Economic Equality- Greater economic equality benefits all people in all societies, whether you are rich, poor, or in-between.
Standard of Living-This is important because the greater productivity and happiness are, the better off an economy tends to be as a whole.
Economic Growth-Faster growth in gross domestic product (GDP) expands the overall size of the economy and strengthens fiscal conditions.
Step-by-step explanation:
Economic efficiency- For consumers, economic efficiency leads to lower prices for goods and services. For the government, more efficient firms and higher levels of productivity and economic activity increase economic growth.
Economic Equality-Countries that have chosen to be more equal have enjoyed greater economic prosperity while also managing to develop in a more environmentally sustainable fashion.
Standard of Living- Standards of living can affect multiple factors of a population, including happiness and productivity.
Economic growth-
The goods and services that we all need are not just there – they need to be produced – and economic growth means that the quality and quantity of these goods and services increases, from the food that we eat to the public infrastructure we rely on.