Which of the Following Statements Can Used to Describe Efficiency

question 255

Multiple Choice

Which of the following statements can used to describe efficiency?
I. Efficiently using resources means that producers make the highest profits possible.
II. Using resources efficiently means that we cannot produce more of one good without producing less of another good that has a higher value.
III. Resource use is efficient when we produce goods and services that people value most highly.

• A) I only
• B) I and II
• C) II and III
• D) I, II and III

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Definitions:

Division Of Labor

The assignment of different parts of a manufacturing process or task to different people in order to improve efficiency.

Predictor Of Divorce

A variable or factor that is statistically associated with the likelihood of a marriage ending in divorce.

Disagreements

Situations in which two or more parties have different viewpoints, ideas, or opinions, often leading to discussion or argument.

Caregiving Workload

The amount and intensity of caregiving tasks and responsibilities, typically in the context of looking after sick, elderly, or young dependents.