In the context of AP Microeconomics, achieving __________ means resources are allocated in a way that maximizes total surplus in the market.

In AP Microeconomics, achieving economic efficiency means that resources are used in a way that maximizes total surplus, which is the sum of consumer and producer surplus. This happens when goods and services are produced at the lowest cost and are allocated to those who value them the most. For example, if a farmer grows apples and sells them for a price that consumers are willing to pay, both the farmer and the buyers benefit, creating a surplus. When resources are efficiently allocated, it leads to a better outcome for everyone in the market, as there is no way to make one person better off without making someone else worse off. Understanding this concept helps you analyze how markets function and the importance of resource allocation in achieving overall economic well-being.