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Employment and efficiency

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Explain the relation between employment and efficiency.

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The solution does a superb job of explaining the relationship between employment and efficiency. The solution does not go into a lot of detail but at the same time explains the concepts very well. The solution is brief and concise and very good for students who just want to confirm their understanding of the concepts.

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We can not satisfy all of our unlimited wants due to scarce resources. Thus, economy is a service of efficiency, also can be described as the best use of scarce resources.

Full employment (using available resources) - By full employment, we mean the ...

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