In any economy in which economic decisions are guided by both prices and individual self-interest, there is the potential to achieve efficiency in the level of production.
An economy is a function of how the various means of production, money, and scarce resources are carefully allocated and used to facilitate the demand and supply of goods and services in a country, so as to efficiently and effectively meet the unending needs or requirements of consumers.
According to economists, there is the potential to achieve efficiency in the level of production in any economy in which economic decisions are guided by both prices and individual self-interest.
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