Efficiency is:

Select one:

a. measured by looking at a product's price.

b. the quantity of inputs required to produce a given output.

c. independent of customers' perception of a product's value.

d. defined as the time it takes to produce a product.

e. lower when the output is high quality.

Question

Business

Sofia Davis

18 September, 09:57

Efficiency is:

Select one:

a. measured by looking at a product's price.

b. the quantity of inputs required to produce a given output.

c. independent of customers' perception of a product's value.

d. defined as the time it takes to produce a product.

e. lower when the output is high quality.

+4

Answers (1)

Know the Answer?

Darian Hogan · Answer 1

d. defined as the time it takes to produce a product.

Explanation:

There are two concepts i. e Efficiency and effectiveness

Efficiency: In this, the work or task is performed with minimum time, effort and with available resources or we can say in the best possible manner. It deals with the techniques, not the output that will be produced after applying the techniques

Effectiveness: In this, the business organization aims to achieve its goals and objectives. It gives the end result of a particular task.

So, the correct option is d.

Efficiency is:Select one:a. measured by looking at a product's price.b. the quantity of inputs required to produce a given output.c. independent of customers' perception of a product's value.d. defined as the time it takes to produce a product.e. lower when the output is high quality.

Efficiency is:

Select one:

a. measured by looking at a product's price.

b. the quantity of inputs required to produce a given output.

c. independent of customers' perception of a product's value.

d. defined as the time it takes to produce a product.

e. lower when the output is high quality.