Which of the Following Is NOT a Measure of Efficiency

question 2

Multiple Choice

Which of the following is NOT a measure of efficiency?

• A)time
• B)quality
• C)volume
• D)cost

---

Definitions:

Pauper Labor Fallacy

The incorrect belief that importing goods from countries with lower wage levels hurts the economy of a country with higher wage levels.

Sweatshop Labor Fallacy

The misconception that sweatshop labor is entirely harmful and provides no benefit to workers in developing countries.

Heckscher-Ohlin Theory

An economic theory that suggests countries export what they can most efficiently and abundantly produce.

Absolute Advantage

The ability of a country, company, or individual to produce a good or provide a service more efficiently than competitors.