Effectiveness Is Concerned with Whether Defined Goals Are Achieved, Whereas

question 77

True/False

Effectiveness is concerned with whether defined goals are achieved, whereas efficiency is concerned with whether the goals are achieved with a minimum use of resources.

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Definitions:

Globalization

The integration of national economies into a worldwide economy.

American Consumer

An individual in the United States who purchases goods and services for personal use.

Frederic Bastiat

A 19th-century French economist and writer known for his advocacy of free trade and his witty criticisms of protectionism and socialism.

Adam Smith

A Scottish economist, philosopher, and author, often considered the father of modern economics known for his theories on free markets and the 'invisible hand' guiding economies.