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| the efficiency principle definitions | |||
|---|---|---|---|
| # | Definition | Sets | |
| 1 | total economic surplus is maximized. efficiency is an important social goal because, when the economic pie grows larger, everyone can potentially have a larger slice | 1 set | |
| 2 | economic efficiency occurs when total economic surplus is maximized. | 1 set | |
| 3 | economic efficiency occurs when total economic surplus is maximized. efficiency is an important social goal, because when the economic pie grows larger, everyone can potentially have a larger slice | 1 set | |
| 4 | economic efficiency occurs when total economic surplus is maximized. efficiency is an important social goal because, when the economic pie grows larger, everyone can potentially have a larger slice | 1 set | |
| 5 | economic efficiency occurs when total economic surplus is maximized | 1 set | |