Economists Define Efficiency as

question 93

Multiple Choice

Economists define efficiency as

• A)output maximization.
• B)the absence of waste.
• C)input maximization.
• D)the presence of surplus.

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Definitions:

Set Point

A theory suggesting that the body maintains its weight and body fat level with internal regulatory controls, like a thermostat for body weight.

Incentive

Something that motivates or encourages an individual to do something or to achieve a goal.

Drive

An innate, biologically determined urge to attain a goal or satisfy a need.

Goal

An objective or desired result that an individual or organization aims to achieve, often driving motivation and effort.