Production efficiency occurs when goods are
A) produced with the lowest possible resource cost.
B) allocated equally to those who paid the most for them.
C) delivered to those who have the greatest willingness and ability to acquire them.
D) allocated to those with the greatest need.

Question

Quizplus · Accepted Answer

Production efficiency means producing goods with the lowest possible resource cost, which ensures maximum output with minimum input. The goal is to minimize waste and maximize productivity, leading to higher profitability for the producer and lower prices for the consumers. Therefore, option A is the best choice.

Production Efficiency Occurs When Goods Are