How to summarize detailed system resource usage for given command on a Linux or Unix

Dec 11, 2015, 09:00 (0 Talkback[s])
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How do I determine the system resource usage during of execution of a particular command on a Linux, OS X Unix, BSD and Unix-like operating system? You need to use /usr/bin/time (hereinafter referred to as "time") command to find the system resource usage during of execution of a particular command.