Production Is Productively Efficient When

question 80

Multiple Choice

Production is productively efficient when

• A) the maximum possible output is being produced from a given collection of inputs
• B) people are working their hardest
• C) no more capital can be substituted for labor
• D) technological innovation is no longer desirable
• E) workers perform their duties at the expected level,even if they are physically capable of doing more

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Definitions:

Groupthink

A psychological phenomenon that occurs within a group of people when the desire for harmony in the group results in an irrational or dysfunctional decision-making outcome.

Poor Decisions

Choices or judgments that result in undesirable outcomes, often due to a lack of information, consideration, or impulse control.

Consensus

This term means general agreement among a group or the shared conclusions of a collective.

Stereotype

A generalized (sometimes accurate but often overgeneralized) belief about a group of people.