One Way to Increase Economic Efficiency in Saving Lives Is

question 75

Multiple Choice

One way to increase economic efficiency in saving lives is to

• A) shift resources toward methods with low cost per life saved
• B) shift resources toward methods with high cost per life saved
• C) allocate more resources to saving lives
• D) allocate fewer resources to saving lives
• E) move along the production possibilities frontier and increase the number of lives saved

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Definitions:

Control

The process of setting standards, measuring actual performance, and taking corrective action to ensure that objectives are achieved in an organization.

Production Targets

Specific goals set for the amount of products to be produced within a certain timeframe, guiding the production process and resource allocation.

Correction Actions

Measures taken to rectify problems identified during the monitoring and controlling of a project or process.

Planning

The process of making plans for something, including strategies, operations, and resource allocation.