Efficiency focuses on the means of achieving goals, whereas effectiveness focuses on the results themselves
Indicate whether the statement is true or false.
Answer: TRUE
Explanation: To be efficient is to make use of resources in a wise and cost-effective manner while in the process of attaining goals. To be effective is to achieve the goals.
Business
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The power of judicial review was explicitly stated in the Constitution when it was drafted
Indicate whether the statement is true or false
Business
Given an EOQ model with shortages in which annual demand is 4200 units, Co = $160, Cc = $7 per unit per year and CS = $25, what is the optimal stock out level?
What will be an ideal response?
Business