gaguirre0043 gaguirre0043

24-01-2022
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What does it mean for a business to be efficient?

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vrdav08 vrdav08

24-01-2022

Answer:

Efficiency is about making the best possible use of resources. Efficient firms maximise outputs from given inputs, and so minimise their costs. By improving efficiency a business can reduce its costs and improve its competitiveness.

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