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Department of Management
Introduction to Management Test one Maximum Mark: 10 Time given: 20 minutes
8. Getting the most output from the least amount of inputs in order to minimize resource costs
refers to _____effeceint_________________________.
Objectives serve as a benchmark for the formulation of plan, policies, strategies, rules, budgets,
procedures, etc.
Making decision is a rational choice or selection of one alternative from among a set of
alternatives