Final answer:
The concept of getting work done with the least amount of effort, expense, and waste is known as efficiency, which aims to maximize production and benefit from scarce resources without incurring waste.
Step-by-step explanation:
Getting work done with a minimum of effort, expense, and waste is most closely associated with the concept of efficiency. Economic efficiency entails making the best use of available resources to produce the goods and services that are most desired by people, maximizing production without waste. It ensures that an economy is organized in such a way that it provides the most benefit from scarce resources. On the production possibilities frontier, every choice shows productive efficiency, meaning there is no possibility of increasing the quantity of one good without a decrease in another, which exemplifies production without waste.