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You discover that many consumers want easy access to pens in their cars, so you decide to produce a steering wheel that has a pen tucked inside that can conveniently pop out whenever someone needs it.
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You discover that many consumers want easy access to pens in their cars, so you decide to produce a steering wheel that has a pen tucked inside that can conveniently pop out whenever someone needs it. The steering wheels become very popular with car companies. Developing this product is an example of what

User JDawg
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Answer: c. Allocative efficiency

Step-by-step explanation:

When an economy is experiencing allocative efficiency, it means that goods in the economy are being produced according to consumer preferences. This means that if consumers want a certain good in a certain quantity, the economy will produce that good in that quantity.

This is the case here. You saw that consumers wanted a good and you went ahead and produced it therefore giving consumers what they wanted.

User Sgiri
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