Question

Free markets produce efficient results. Productive efficiency occurs as goods and services are produced using the least amount of resources, minimizing _________________. Distributive efficiency occurs as goods and services go to those who value them the most. Allocative efficiency occurs as what is produced is what society wants.

Answer 1

Minimizing costs.

Step-by-step explanation:

Productive efficiency is when a good or a service is actually being produced at the minimum possible cost. At this point, the firm ca not produce any additional units of a good without reducing the production level of another good or without improving the technology of production. So productive efficiency implies cost minimization.