Economic efficiency


 

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Economic efficiency

The extent to which a given set of resources is being allocated across uses or activities in a manner that maximizes whatever value they are intended to produce, such as output, market value, or utility. Contrasts with engineering efficiency, which focuses within a single activity on the output it produces per unit input.



Similar Matches

Informational efficiency

Informational efficiency

The speed and accuracy with which prices reflect new information.


Capital market efficiency

Capital market efficiency

The degree to which the present asset price accurately reflects current information in the market place. See: Efficient market hypothesis.


Pricing efficiency

Pricing efficiency

Also called external efficiency; a market characteristic that prices at all times fully reflect all available information that is relevant to the valuation of securities.


Technical inefficiency

Technical inefficiency

See X-efficiency.


X-efficiency

X-efficiency

The ability of a firm to get maximum output from its inputs. Failure to do so, called X-inefficiency or technical inefficiency, may be due to lack of incentives provided by competition. Improvement in X-efficiency is one hypothesized source of gain from trade. Term is due to Leibenstein (1966).


Further Suggestions

Efficiency
Efficiency
Allocative efficiency
Allocational efficiency
Strong form efficiency
Riegle Neal Interstate Banking and Branching Efficiency Act of 1994
Marginal efficiency of capital
Semistrong form efficiency
Efficiency locus
Engineering efficiency
Informational efficiency


 
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