Examlex
BelAir Tech has a five-member team in charge of the development and maintenance of its information systems.An information system is in place,and the team performs routine maintenance to keep it running smoothly.Which of the following scenarios is an example of perfective maintenance?
Efficient
The optimal use of resources to achieve the desired output with minimal waste, or achieving a goal in the most cost-effective way.
MSB = MSC
A condition where the Marginal Social Benefit of consuming a good equals the Marginal Social Cost of producing it, representing an optimal allocation of resources.
Public Park
A plot of land, usually owned by a government, open to the public for recreation and relaxation, without an entrance fee.
Positive Externality
A benefit received by third parties not directly involved in an economic transaction, like the environmental benefits from a public park.
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