_____is balance between all factors of production that gives maximum output for the minimum input
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Answer:
Production
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The correct fill in the blank is productivity.
- The term productivity refers to the balance of all output factors. It ensures that maximum output is achieved with minimal input.
- It is the total output to total input ratio.
- It depends on various factors such as the production and finance department. The elements of Hr department as well as the marketing department.
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