Efficiency means:
A) producing the desired result.
B) producing goods and services using the least amount of resources.
C) the amount of output you generate given the amount of input.
D) the buying and selling of goods using the most amount of resources.

Question

Quizplus · Accepted Answer

Efficiency refers to maximizing output while minimizing inputs or resources used. Therefore, producing goods and services using the least amount of resources is the best choice for the definition of efficiency.

Efficiency Means