Which of the following will be accomplished by efficient allocations of the factors of production?

guaranteeing economic success

understanding whether a product will fail

fulfilling many needs and wants of society

replenishment of limited resources

Answer

C. Fulfilling many needs and wants of society

Explanation

Factors of production are used in a composition manner to produce products and services. The amounts of inputs determine the expected output according to the production function applied. When allocation of land, labor, capital and enterprise is properly done, fulfilling many needs and wants of society will be achieved.