economic efficiency

Definition

The extent to which supplies of goods are matched to demands for goods or services in a particular market. The notion of economic efficiency implies the possibility of an ideal market in which no value is lost due to waste, unneeded surpluses, unmet demand, or other misallocations of resources.

Use economic efficiency in a sentence

We had a lot of economic efficiency and that lead us to a really stellar year as far as as sales and revenue go.

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You need to try and have the best economic efficiency that you can so that you are not wasting any of your time.

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We had been working hard to achieve a model of economic efficiency, but were finding small problems that ended up being harder to figure out than previously thought.

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Coase Theorem productive efficiency