The Greater the Input Resources Required to Produce a Given

question 21

True/False

The greater the input resources required to produce a given volume of output,the higher will be the efficiency of the operating system.

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Definitions:

Export

The act of selling goods or services produced in one country to another country.

Opportunity Cost

Represents the value of the best alternative that is forgone when a decision is made.

Unit(s)

The fundamental measurement or quantity of a good, service, or economic variable used as a standard or baseline for transactions, assessments, or calculations.

Toys

Objects designed for play or amusement, often targeted towards children.