Which Statement Is TRUE Regarding Production Efficiency

question 315

Multiple Choice

Which statement is TRUE regarding production efficiency?

• A) Efficiency and cost are unrelated concepts.
• B) Production efficiency is independent of the type of technology used.
• C) Producing at the lowest possible resource cost is equivalent to getting as much output as possible from a given set of resources.
• D) The most economically efficient production technology is not always the cheapest.

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Definitions:

Organizational Cultures

The shared values, beliefs, norms, and practices that shape the social and psychological environment of an organization, influencing its members' behavior and attitudes.

Assimilation

The process by which individuals or groups of different backgrounds come to adopt the culture, beliefs, and practices of a larger community or society.

Organizational Culture

The shared values, beliefs, and practices of an organization's members that shape its social and psychological environment.

Tangible Assets

Physical and material assets owned by a company, such as buildings, machinery, and inventory, which have a defined monetary value and can be physically touched.