Maximizing Output or Minimizing Waste Is Known As

question 86

Multiple Choice

Maximizing output or minimizing waste is known as:

• A) allocative efficiency.
• B) allocative effectiveness.
• C) productive efficiency.
• D) productive effectiveness.

Assign overhead costs to products using calculated activity rates.

Determine product margins through ABC analysis.

Contrast the ABC system with traditional costing systems.

Compute customer margins using ABC data.

---

Definitions:

Ryff Well-Being Inventory

A psychological assessment tool that measures facets of well-being including autonomy, personal growth, and environmental mastery.

Environmental Mastery

The ability of an individual to effectively manage and alter their environment to suit their needs.

Purpose in Life

The sense of meaning, direction, and intentionality in an individual's existence.

Psychological Well-Being

A state, comprising aspects such as self-acceptance, personal growth, purpose in life, positive relations with others, environmental mastery, and autonomy, reflecting an individual's psychological functioning and satisfaction with life.