Efficient Production Means Producing

question 99

Multiple Choice

Efficient production means producing:

• A) less than feasible output for a given amount of resources.
• B) more than feasible output for a given amount of resources.
• C) less than what is needed.
• D) the maximum feasible output for a given amount of resources.

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Definitions:

Ethics

Refers to an individual’s beliefs about what is right and wrong and what is good and bad. Ethics are formed by the societal context in which people and organizations function.

Interactional Justice

A concept in organizational behavior regarding the treatment individuals receive as decisions are made, emphasizing dignity and respect.

Procedural Justice

The concept that fair and transparent processes are crucial in legal and organizational decisions, promoting trust and respect.

Distributive Justice

A principle concerning the fair allocation of goods, resources, and burdens among members of a society.