_____________ Efficiency Refers to 'Getting the Most for the Last

question 45

Multiple Choice

_____________ efficiency refers to 'getting the most for the last'.

• A) Technical
• B) Economic
• C) Allocative
• D) Productive

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Definitions:

Cost Of Goods Sold

Expenses directly related to the production of a company’s merchandise for sale, including the cost of labor and materials.

Raw Materials

The basic material from which a product is made, typically used in the manufacturing or production process.

Indirect Cost

Expenses not directly linked to the production of goods or services, such as rent, utilities, and administrative salaries.

Cost Object

Anything for which cost data are desired. Examples of cost objects are products, customers, jobs, and parts of the organization such as departments or divisions.