Efficiency is best described as using resources in such a way as to maximize the production of goods and services. This means utilizing the least amount of resources (such as time, money, and materials) to achieve the highest output, effectively optimizing processes to enhance productivity.
What is efficiency?
replacing old ways of producing goods and services with new tools and methods
using resources in such a way as to maximize the production of goods and services
finding the most expensive, time-consuming way to produce a good or service
using the maximum number of resources to produce goods and services
1 answer
1 answer