Resource Use Is Efficient When

question 392

Multiple Choice

Resource use is efficient when

• A) marginal social benefit exceeds marginal social cost.
• B) marginal social cost is decreasing.
• C) marginal social benefit equals marginal social cost.
• D) marginal social benefit is increasing.

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Definitions:

Organizational Standards

Predetermined levels of excellence that an organization seeks to achieve in its operations, products, and services, typically through the implementation of rules, guidelines, and procedures.

Standards

Established rules, criteria, or measures against which products, services, and processes are evaluated to ensure quality, safety, and consistency.

Objectives

Clearly defined goals or outcomes that an individual, team, or organization aims to achieve within a specific timeframe.

Organizational Control

Mechanisms or systems used by an organization to regulate behavior, processes, or outcomes to achieve its goals.