The Productivity Measure(s) in Which Inputs and Outputs Are Expressed

question 153

Multiple Choice

The productivity measure(s) in which inputs and outputs are expressed in dollars is(are) called:

• A)Productivity measurement
• B)Operational productivity measures
• C)Partial productivity measurement
• D)Financial productivity measures

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Definitions:

Production Efficiency

A level of production in which the economy can no longer produce additional amounts of a good without lowering the production level of another product.

Production Inefficiency

A situation where a firm or economy is not producing at the lowest possible cost or maximally utilizing its resources, leading to waste or lost potential output.

Opportunity Cost

Sacrificing potential opportunities from a range of alternatives by settling on one.

Present Consumption

The portion of current income or resources that is used for consumption, rather than saving or investing.