Which of the following best defines 'resource allocation efficiency'?

Practice Questions

Q1
Which of the following best defines 'resource allocation efficiency'?
  1. The ability to distribute resources evenly across all departments.
  2. The optimal use of resources to achieve the desired output.
  3. The process of cutting costs to improve profitability.
  4. The method of reallocating resources based on employee feedback.

Questions & Step-by-Step Solutions

Which of the following best defines 'resource allocation efficiency'?
  • Step 1: Understand what 'resource allocation' means. It refers to how resources (like money, time, or materials) are distributed or used.
  • Step 2: Learn what 'efficiency' means. It means doing something in the best possible way with the least waste of resources.
  • Step 3: Combine the two concepts. 'Resource allocation efficiency' means using resources in the best way to get the most output or results.
  • Step 4: Identify the correct definition from the options provided. Look for the one that talks about using resources optimally to achieve desired results.
  • Step 5: Confirm that option 1 matches this definition, making it the correct answer.
No concepts available.
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