Final answer:
The spokesman means 'Balancing societal benefits and costs' by 'cost-effective for society,' indicating allocative efficiency, which ensures the optimal production of goods and services as per society's desires.
Step-by-step explanation:
When a spokesman refers to something being 'cost-effective for society,' they are likely talking about c. Balancing societal benefits and costs, rather than just maximizing profits or minimizing expenses. This concept aligns with allocative efficiency, which is an economic principle that aims to produce the optimal quantity of goods and services based on what society most desires, where the marginal benefit to society of one more unit is equal to the marginal cost. It involves an analysis wherein if the marginal costs of an action, such as cleanup, are greater than the marginal benefits, the resources could be more efficiently utilized elsewhere in the economy.