Efficiency is:
A)defmed as the time it takes to produce a product.
B)the quantity of inputs required to produce an output.
C)independent of customers' perception of a product's value.
D)measured by looking at a product's price. E)lower when the output is high-quality.

Question

Quizplus · Accepted Answer

Efficiency is about the ratio of inputs to outputs. It's about achieving maximum output with minimum input. The quantity of inputs required to produce an output is a key factor in determining efficiency.

Efficiency Is