What is efficiency?

A using resources in such a way as to maximize the production of goods and services

B replacing old ways of producing goods and services with new tools and methods

C finding the most expensive, time-consuming way to produce a good or service

D using the maximum number of resources to produce goods and services

Question

Business

Camron Davis

16 April, 19:20

What is efficiency?

A using resources in such a way as to maximize the production of goods and services

B replacing old ways of producing goods and services with new tools and methods

C finding the most expensive, time-consuming way to produce a good or service

D using the maximum number of resources to produce goods and services

+3

Answers (2)

Know the Answer?

Shyla Payne · Answer 1

Efficiency - achieving maximum productivity with minimum wasted effort or expense.

I believe the answer that best matches this definition is A.

Rambo · Answer 2

The correct answer option is A. using resources in such a way as to maximize the production of goods and services.

Explanation:

The term efficiency is derived from the term 'efficient' which means, in the context of a machine or a system, achieving the maximum productivity with minimum expense or effort.

So accordingly, from the given answer options, A. using resources in such a way as to maximize the production of goods and services describes efficiency the best.