The Ratio of Inputs Used to Produce Outputs Is Called

question 97

Multiple Choice

The ratio of inputs used to produce outputs is called ______.

• A) efficiency
• B) effectiveness
• C) productivity
• D) quality

---

Definitions:

Quantity Demanded

The total amount of a good or service that consumers are willing and able to buy at a given price in a given time period.

Substitute Resources

Alternative resources that can be used in place of another for the production of goods and services.

Resource

A source or supply from which benefit is produced, typically natural, human, or capital resources used to produce goods and services.

Minimum Wage

The lowest legally allowable pay per hour for workers, set by government policy.