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:

Workers

Individuals engaged in a particular job or sector, contributing their labor for compensation.

Uplift Union

A union strategy focusing on improving the social and economic status of workers through education, community involvement, and positive labor relations practices.

Moral

Pertaining to principles or rules of right conduct or the distinction between right and wrong; ethical.

Intellectual

A person involved in critical thinking, research, and reflection about society, and who proposes solutions for its normative problems.