Introduction to Economics 1 Deneme Sınavı Sorusu #1090310

What is the ability to put a given amount of scarce resources into use in such a way to produce the highest level of output that could be produced with the available production technology?


Efficiency

Market power

Production function

Production possibilities frontier

Opportunity cost


Yanıt Açıklaması:

Efficiency refers to the ability to put a given amount of scarce resources into use in such a way to produce the highest level of output that could be produced with the available production technology.

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