B2
the optimal use of resources to achieve the best possible output or outcome with the least waste or expense.
Meanings
the optimal use of resources to achieve the best possible output or outcome with the least waste or expense.
The company improved its economic efficiency by reducing waste and optimizing production processes.
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Antonyms
a situation where no one can be made better off without making someone else worse off, often referred to as Pareto efficiency.
Achieving economic efficiency in a market means that resources are allocated in the most beneficial way possible.
Synonyms
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Last updated: 2025/01/11 11:58