Optimum use of resources means
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Optimum Utilization of Resources Management utilizes all the physical & human resources productively. This leads to efficacy in management. Management provides maximum utilization of scarce resources by selecting its best possible alternate use in industry from out of various uses.
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The principle suggests that the choice of an efficient combination of variable factors depends on two things, viz., the marginal productivity of different factors and their prices. Only by making a comparison between factor prices and productivity it is possible to choose an optimum combination of resources
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