Which of the following terms describes the efficiency of using limited resources?

The term that best describes the efficiency of using limited resources is "Resource Optimization." This concept involves systematically determining the best use of available resources to achieve maximum output and efficiency. It emphasizes the idea of maximizing the value or utility obtained from resources while minimizing waste. In various contexts, such as project management, operations, or economics, resource optimization strives to find the most effective balance in resource utilization, ensuring that inputs lead to the best possible outcomes.

Resource allocation and resource management pertain to how resources are distributed and used within a system, but they do not inherently focus on the efficiency aspect of that usage. Resource minimization focuses on reducing the quantity of resources used, but this does not necessarily equate to doing so in the most efficient manner. Thus, "Resource Optimization" stands out as the term that directly relates to the efficient use of limited resources.