Average Safety Capacity (%) Is Computed as

question 43

Multiple Choice

Average safety capacity (%) is computed as

• A)Average resource utilization (%) - 100%
• B)100% - average resource utilization (%)
• C)[maximum safety capacity (%) + minimum safety capacity (%)]/2
• D)100% - maximum resource utilization (%)

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Definitions:

Absolute Advantage

A condition where an entity can produce a good at a lower cost in terms of labor, resources, and time than another entity producing the same good.

Opportunity Cost

Forgoing possible gains from alternative choices when one path is taken.

Opportunity Cost

The expense incurred by not selecting the next most favorable choice while making a decision.

Nigerian Worker

An individual employed in Nigeria, contributing to the country's workforce across various economic sectors, often facing unique labor market conditions.