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A typical society strives to get the most it can from its scarce resources. At the same time, the society attempts to distribute the benefits of those resources to the members of the society in a fair manner. In other words, the society faces a tradeoff between

A. guns and butter.
B. work and leisure.
C. efficiency and equality.
D. inflation and unemployment.

1 Answer

3 votes

Answer:

C. efficiency and equality.

Step-by-step explanation:

A typical society that strives to get the most it can from its scarce resources and at the same time, the society attempts to distribute the benefits of those resources to the members of the society in a fair manner; faces a trade-off between efficiency and equality.

Efficiency is the bid to avoid any kind of waste of resources, time, energy, efforts, money, or indeed any resource. Put simply it is getting the best out of a resource. While equality on the other hand is the distribution of resources or benefits to all parties in an equitable or fair manner.

Hence, it is obvious that the given scenario borders on efficiency and equality.

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