Which of the following involves using resources to produce the maximum amount of goods and services?

a. utilization
b. underutilization
c. efficiency
d. overefficiency

Ans: c. efficiency

Economics

You might also like to view...

The total labor hours that all the firms in the economy plan to hire during a given time period at one particular real wage rate is the

A) demand for labor. B) supply of labor. C) quantity of labor demanded. D) quantity of jobs supplied. E) quantity of labor supplied.

Economics

Indifference curves for perfect substitutes must be parallel lines with a slope of negative one

Indicate whether the statement is true or false

Economics