In the 3 E's concept, which statement defines the relationship between Economy and Efficiency?

In the 3 E's concept, which statement defines the relationship between Economy and Efficiency?

• A. Economy is the same as Efficiency
• B. Efficiency is the same as Effectiveness
• C. Economy + Efficiency = Effectiveness
• D. Economy results in highest quality regardless of cost

Answer: (C)

In the 3 E's concept, you achieve the desired outcomes by combining two focused approaches: minimizing the cost of inputs (economy) and using resources in the best possible way to produce outputs (efficiency). When you pair economy with efficiency, you’re better positioned to reach objectives—this is effectiveness. Economy alone might cut costs but could compromise quality or suitability; efficiency alone means you use resources well, but not necessarily at a reasonable overall cost. The statement that links economy and efficiency to effectiveness captures this balance: by keeping costs down while using resources efficiently, you can deliver the right results. For example, negotiating low prices for inputs and reducing waste in processes helps ensure you meet goals without overspending, which is true effectiveness.

In the 3 E's concept, you achieve the desired outcomes by combining two focused approaches: minimizing the cost of inputs (economy) and using resources in the best possible way to produce outputs (efficiency). When you pair economy with efficiency, you’re better positioned to reach objectives—this is effectiveness. Economy alone might cut costs but could compromise quality or suitability; efficiency alone means you use resources well, but not necessarily at a reasonable overall cost. The statement that links economy and efficiency to effectiveness captures this balance: by keeping costs down while using resources efficiently, you can deliver the right results. For example, negotiating low prices for inputs and reducing waste in processes helps ensure you meet goals without overspending, which is true effectiveness.