Question

if competition causes an economy to be more efficient what effect will that efficiency have? A. it results in more democracy. B. it results in more democracy. C. it increases the nations wealth. D. it decreases a nations wealth.

Answer 1

The correct option is C.
Efficiency involves using the lowest amount of input to produce maximum outputs by guarding against all forms of wastage. An economy that becomes more efficient will be able to increase the amount of wealth that is available in the country. This is because all the resources that were previously been wasted are now been put into good use which yield money.