Resources are allocated efficiently when

A) everyone can afford what they want.
B) production occurs at least cost.
C) output is fairly distributed.
D) profits are maximized.

Efficiently Allocated

The optimal distribution of resources among different possibilities to maximize productivity and utility.

Least Cost

The principle of choosing the option that provides the necessary level of benefit or utility at the minimum possible cost.

Production

The process of combining various material inputs and immaterial inputs (plans, know-how) to make something for consumption.