Which of the following best describes the term 'resource optimization'? (2023)

Practice Questions

Q1
Which of the following best describes the term 'resource optimization'? (2023)
  1. Maximizing the use of available resources to achieve the best outcomes.
  2. Minimizing the costs associated with resource acquisition.
  3. Ensuring equal distribution of resources among all stakeholders.
  4. Reducing the quantity of resources used in production.

Questions & Step-by-Step Solutions

Which of the following best describes the term 'resource optimization'? (2023)
  • Step 1: Understand what 'resources' means. Resources can be anything like time, money, materials, or people.
  • Step 2: Learn what 'optimization' means. Optimization is about making something as effective or functional as possible.
  • Step 3: Combine the two definitions. Resource optimization means using resources in the best way to get the best results.
  • Step 4: Look at the options provided in the question to find the one that matches this definition.
  • Step 5: Identify that option 0 describes resource optimization correctly.
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