When the mix of goods and services produced is just what society desires, then exists?

The answer is "allocative efficiency".

Allocative efficiency is a condition of the economy in which good produced speaks to buyer inclinations; specifically, every good or service is delivered up to the point where the last unit gives a negligible advantage to buyers equivalent to the peripheral cost of producing. Allocative efficiency happens where cost is equivalent to marginal cost that is ( P=MC), in light of the fact that cost is society's proportion of relative worth of an item at the margin or its marginal benefit.

according to classical republican political theory, which democratic republics would function best?

a.   small republics, with people who had similar interests

b.   large republics, with people who had competing interests

c.   republics made up entirely of landowners

d.   republics made up entirely of servants

1. government controls industry through policy

2.government is both a consumer and a producer

4. government can use policy t influence economy

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