economic efficiency
Economic efficiency refers to the state where resources are allocated in the most optimal way to maximize the production of goods and services, ensuring that there is no possible redistribution of resources that would generate additional benefit for one party without reducing the benefit to another party.
Requires login.
Related Concepts (3)
Similar Concepts
- cost efficiency
- decision-making efficiency
- eco-efficiency
- economic equilibrium
- economic evaluation
- economic productivity
- efficiency
- energy efficiency
- environmental efficiency
- financial efficiency
- market efficiency
- operational efficiency
- production efficiency
- productivity and efficiency
- work efficiency