____ refers to minimizing the resources an organization must spend to achieve a specific level of desired exchanges.

Question

Quizplus · Accepted Answer

Efficiency refers to achieving maximum output with minimum input, which includes minimizing the resources an organization must spend to achieve a specific level of desired exchanges. Effectiveness refers to achieving the desired outcome, productivity refers to output per unit of input, objectivity refers to being unbiased, and cost cutting is a general term that can refer to any effort to reduce costs, but does not specifically address achieving a specific level of desired exchanges.

____ Refers to Minimizing the Resources an Organization Must Spend