The IMA's term to describe a situation where one resource can be substituted for another in production, without affecting the costs of the other resources used in production of the outputs, is
A) Traceability
B) Interchangeability
C) Responsiveness
D) Avoidability

Question

Quizplus · Accepted Answer

Interchangeability refers to the ability to substitute one resource for another in production without affecting the costs of the other resources used. This allows for flexibility in production and cost savings.

The IMA's Term to Describe a Situation Where One Resource