What is the difference between productive efficiency and allocative efficiency?

• A. Productive efficiency focuses on consumer goods, while allocative efficiency focuses on capital goods.
• B. Productive efficiency is about maximizing output, while allocative efficiency is about minimizing input.
• C. Productive efficiency is about minimizing costs, while allocative efficiency is about meeting consumer preferences.
• D. Productive efficiency is irrelevant to economic growth, while allocative efficiency is crucial.

Answer: (C)