WebEfficiency refers to ______. The relationship between inputs and outputs. Good management strives for ______. High efficiency and high effectiveness. Good political skills would be most important to a manager who ______. Wants to rise through organizational ranks. In a small organization, which of the following is NOT likely to be true? WebEfficiency a. and equality both refer to how much a society can produce with its resources. b. and equality both refer to how fairly the benefits from using resources are distributed between members of a society. c. refers to how much a …
Allocative Efficiency: Definition, Example and Calculation
WebStudy with Quizlet and memorize flashcards containing terms like The word "economy" comes from the Greek word oikonomos, which means a. "environment." b. "production." c. "one who manages a household." d. "one who makes decisions.", Resources are a. scarce for households but plentiful for economies. b. plentiful for households but scarce for … WebIn the short run, one or more inputs are fixed. Productive efficiency refers to: cost minimization, where P = minimum ATC In the short run, purely competitive firms earn ______ in equilibrium, while in the long run, firms earn, _______ in equilibrium respectively. profits or loses; normal profit In the long run, pure competition produces: scrcpy force close
allocative efficiency Flashcards Quizlet
WebAllocative efficiency. Resources are allocated to the best interest of society, maximum social welfare and maximum utility. Producing goods and services demanded by consumers at a price that reflects the marginal cost of supply. occur when marginal benefit / price = marginal cost. Economic efficiency. Occurs when resources are allocated optimally. WebEfficiency refers to the amount of resources used to achieve an organizational goal. Effectiveness is the degree to which the organization achieves a stated goal or succeeds … Webe. efficiency is measured by the monetary cost of an activity. c The term opportunity cost suggests that: a. in any exchange situation where one person gains, someone else must lose. b. not all individuals make the most of life's opportunities. c. executives do not always recognize opportunities for profit as quickly as they should. scrcpy hid