BUSINESS ADMINISTRATION
BUSINESS ECONOMICS
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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A manager is willing to accept the production of fewer products as long as their workers produce higher-quality products. The manager is making a(n)
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exchange.
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trade-off.
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capital good.
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distribution.
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Explanation:
Detailed explanation-1: -Underutilization – using fewer resources than an economy is capable of using.
Detailed explanation-2: -Efficiency means using resources in such a way as to maximize the production of goods and services.
Detailed explanation-3: -The principle of scarcity states that there are limited goods and services for unlimited wants. Thus, people need to make choices in order to satisfy the wants that are most important to them.
There is 1 question to complete.