Economic Efficiency
Efficiency is concerned with the optimal production and distribution of scarce resources. It means an economy makes the best possible use of its scarce resources to maximise welfare.
Efficiency Definition & Meaning | Britannica Dictionary
EFFICIENCY meaning: 1 : the ability to do something or produce something without wasting materials, time, or energy the quality or degree of being efficient (technical); 2 : efficiency apartment
EFFICIENCY Definition & Meaning
The meaning of EFFICIENCY is the quality or degree of being efficient. How to use efficiency in a sentence.
Efficiency
Efficiency is the often measurable ability to avoid making mistakes or wasting materials, energy, efforts, money, and time while performing a task. In a more general sense, it is the ability to do things well,
What does efficiency mean?
Efficiency generally refers to the ability or effectiveness of a system, process, or organization to produce the desired output with the least amount of resources or input. It typically involves minimizing waste,
How Efficiency Is Measured
Efficiency means that an entity is operating at an optimum level of performance. It is a measurable concept that can be determined by the ratio of useful output to total input. A company that...
EFFICIENCY definition and meaning | Collins English Dictionary
In physics and engineering, efficiency is the ratio between the amount of energy a machine needs to make it work, and the amount it produces.
EFFICIENCY Definition & Meaning | Dictionary
EFFICIENCY definition: the state or quality of being efficient, or able to accomplish something with the least waste of time and effort; competency in performance. See examples of efficiency used in a
EFFICIENCY | English meaning
EFFICIENCY definition: 1. the quality of achieving the largest amount of useful work using as little energy, fuel, effort. Learn more.
efficiency noun
Definition of efficiency noun in Oxford Advanced Learner''s Dictionary. Meaning, pronunciation, picture, example sentences, grammar, usage notes, synonyms and more.
Efficiency
1. the state or quality of being efficient. 2. accomplishment of or ability to accomplish a job with a minimum expenditure of time and effort. 3. the ratio of the work done by a machine to the energy