What does "Value for Money" (VfM) in public sector mean

What does "Value for Money" (VfM) in public sector mean

What does "Value for Money" (VfM) in public sector mean? (Select all that apply)

    A) Economy

    B) Efficiency

    C) Effectiveness

    D) Equity

    Answer: A, B, C

    Explanation: VfM is often described in terms of the 3 Es: Economy (minimizing costs), Efficiency (maximizing outputs for inputs), and Effectiveness (achieving intended outcomes). Equity is a separate consideration.