Which of the following statements relates to the concept of efficiency?

Economics Midterm Revision chapter 1 res

Quiz
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Others
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12th Grade
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Easy
lojy Tarek
Used 2+ times
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17 questions
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1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
The absence of waste.
Using resources as effectively as possible.
Being able to produce more of one good only by producing less of something else.
B and C only.
All of the above.
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which of the following best describes an economically optimal decision?
A decision that balances efficiency and sustainability.
A decision that maximizes overall benefits, considering costs and gains.
A decision that prioritizes environmental concerns over efficiency.
A decision that uses the least amount of resources, regardless of the outcome.
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
In the context of fisheries, which of the following represents an efficient but NOT sustainable practice?
Using advanced fishing technology to maximize the catch without depleting fish stocks.
Limiting fishing to maintain a stable fish population for future generations.
Catching as many fish as possible using advanced equipment, leading to fishery collapse.
Implementing policies that distribute fishing rights fairly among communities.
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Why does economic optimality necessitate efficiency?
Because an optimal allocation of resources must minimize waste and maximize benefits.
Because sustainability is a requirement for economic optimality.
Because efficiency and sustainability are unrelated.
Because an optimal decision focuses only on environmental benefits.
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which of the following is an example of a sustainable but not necessarily economically optimal decision?
A city invests in solar-powered public transport despite higher initial costs.
A company uses the cheapest materials to maximize short-term profits.
A factory increases production by using more fossil fuels.
A country subsidizes industries that cause environmental degradation.
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
_______ refers to practices that support long-term economic growth without negatively impacting social, environmental, and cultural aspects of the community.
Sustainability.
Effectiveness.
Efficiency.
Optimality.
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
_______ occurs when resources are used wastefully, leading to missed opportunities.
Inefficiency
Effectiveness
Competency
Welfare
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