Production Efficiency Is Achieved When

question 21

Multiple Choice

Production efficiency is achieved when

• A)the production possibilities frontier shifts outward at an even pace.
• B)there are no more tradeoffs.
• C)all resources are equally productive in all activities.
• D)resources are not equally productive in all activities.
• E)we produce goods and services at the lowest possible cost.

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Definitions:

Directive

An authoritative instruction or official order given by a person or body with power.

Corporate Level

Pertains to high-level strategic decisions and policies that affect the entire organization, rather than specific divisions or operational issues.

Strategic Business Unit

A semi-autonomous division or unit within a company that focuses on a specific market or product line, with its own strategy and objectives.

Board of Directors

A group of individuals elected to represent shareholders and govern the activities of a corporation.