Efficiency is the degree of perfection in which one quantity is converted into another. For example a farmer will be interested in the efficiency with which cattle convert grass into beef weight.
Note Efficiency and effectiveness are often confused with each other.
Effectiveness concerns itself principally with the outcome. Even if excessive input was used, as long as the desired output was achieved, then effectiveness is gained.
example. Even if it cost a few millions of dollars to cap the BP well, as long as it was successful, it was effective.
what are the types of market efficiency in nigeria?
yes
According to economists, the free market system brings efficiency because customers are free to buy from whatever company they want to buy from. That's also an example of freedom of choice.
Efficiency effectiveness can only be measured by results; cost efficiency, time efficiency, output efficiency, etc.
market systemWhere money is used for exchange in place of goods and services.According to economists, the free market system brings efficiency because customers are free to buy from whatever company they want to buy from. If they do not like the way one company does...
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yes , boat efficiency is important because it saves many resources
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I think Braeking efficiency is the relation between the velocity and the time to stop something in movement.
The efficiency continuum refers to capital markets. Within a capital market, if something is reasonable and efficient to the market, it is said to be on the efficiency continuum.
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Theories explain (or attempt to explain) laws. conceptwhat are the types of market efficiency