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.

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Shifting Money from Wants to Needs

Particularly in the U.S., the market has tended to be long on stuff in people’s basements and attics that they won’t ever need and short on stuff that can have a broader impact on economic efficie ... Read more

economic efficiency

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