Efficiency refers to ________.
A)lowering cost to save money and lowering outputs
B)the exponential nature of cost and outputs
C)increasing outputs regardless of cost
D)the additive relationship between cost and benefits
E)the relationship between inputs and outputs

Question

Quizplus · Accepted Answer

Efficiency refers to the relationship between inputs (resources such as time, money, and materials) and outputs (goods or services produced). The focus is on maximizing the output while minimizing the input, which ultimately leads to cost savings and increased productivity. Therefore, the best choice is E.

Efficiency Refers to ________