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

Efficiency

Efficiency

See economic efficiency.


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.


Allocative efficiency

Allocative efficiency

Refers to whether or not an allocation is efficient. A change from an allocation that is not efficient to one that is may be termed an "increase" in allocative 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

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


 
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