A Situation in Which Output Is Produced at the Lowest

question 112

True/False

A situation in which output is produced at the lowest possible cost is called allocative efficiency.

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Definitions:

Affiliation

The need to form connections with others or the act of associating with a group or organization.

Achievement Needs

The drive to pursue and meet goals for personal success and excellence.

Rorschach Ink Blot

A projective psychological test consisting of inkblots presented to a person, who is asked to describe what they see, used to assess personality structure and emotional functioning.

Achievement Motive

A psychological construct that drives an individual to pursue and attain goals.