Production Efficiency Means That

question 129

Multiple Choice

Production efficiency means that

• A) scarcity is no longer a problem.
• B) producing more of one good is possible only if the production of some other good is decreased.
• C) producing another unit of the good has no opportunity cost.
• D) as few resources as possible are being used in production.

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Definitions:

Certification Mark

A mark used by a certified organization to indicate that products or services meet a certain standard of quality or performance.

Registered

Officially listed or entered on a record or registry for recognition, control, or protection purposes.

Written Employee Contract

A formal agreement between an employer and an employee that explicitly states the terms of employment, including duties, compensation, and conditions of work.

Copyrighted

A legal term referring to the exclusive rights granted to the creators or owners of original works, protecting them from unauthorized use.