Producing a Good in the Least Costly Way Is Known

question 67

True/False

Producing a good in the least costly way is known as allocative efficiency.

---

Definitions:

Attraction-Selection-Attrition Theory

A theory suggesting that organizations tend to attract and select individuals with similar personalities and values, and people who do not fit will leave or be forced out.

Separation Strategy

A method or plan devised by a company to manage the process of employees leaving the organization, either through resignation, layoffs, or retirement, in a manner that minimizes negative impacts.

Unrelated Industries

Sectors or fields of business that do not share common markets, products, services, or technologies.

Attraction-Selection-Attrition Theory

is a theory that explains how organizations become more homogeneous over time by attracting, selecting, and retaining individuals with similar characteristics.