When Goods and Services Are Produced at the Lowest Possible

question 195

Multiple Choice

When goods and services are produced at the lowest possible cost,________ occurs.

• A)allocative efficiency
• B)productive efficiency
• C)equity
• D)efficient central planning

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Definitions:

Organizational Learning

The process through which an organization accumulates, disseminates, and uses knowledge to improve its effectiveness and achieve its goals.

Self-Governing Teams

Teams that operate autonomously, making decisions and managing workflows without external supervision.

Boundedness

The quality of being limited or restricted in some way.

Stability

The state or quality of being resistant to change or fluctuation, often used to describe economic, social, or environmental conditions.