Efficiency, effectiveness, and efficacy are some of the measures applied to evaluate managerial performance, both in the private and public sectors...

Efficiency, effectiveness, and efficacy are some of the measures applied to evaluate managerial performance, both in the private and public sectors. Analyze the following sentences about the concepts of efficiency, effectiveness, and efficacy:
I- In the concept of efficiency, it is understood the relationship between community needs and the results achieved by organizational action.
II- Effectiveness allows analyzing whether the objectives set by the organization, for a period of time, have been achieved.
III- The definition of efficiency is understood as the relationship between production and resources used.
IV- Effectiveness aims to evaluate production costs versus results achieved.
Choose the CORRECT alternative:


a) Sentences I and III are correct.
b) Sentences I, II, and IV are correct.
c) Only sentence IV is correct.
d) Sentences II, III, and IV are correct.