Resource Development Is Concerned with Finding the Best Way to Utilize

question 264

True/False

Resource development is concerned with finding the best way to utilize the fixed amount of resources a society has available.
Level of Learning 1: Knowledge of key terms

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Definitions:

Machine Division

A segment within a manufacturing firm that focuses on the operation and maintenance of machinery.

Return On Investment (ROI)

A measure used to evaluate the efficiency or profitability of an investment, calculated by dividing the return of the investment by its cost.

Residual Income

The net income that an investment earns beyond the minimum rate of return.

Margin

Generally refers to the difference between the selling price and the cost of a product or service, often expressed as a percentage of the selling price.