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An efficient production situation is characterized by minimal waste, optimal use of resources, and high output, often achieved through streamlined processes and effective management. In contrast, an inefficient production situation may exhibit excessive waste, bottlenecks, and poor resource allocation, leading to lower output and increased costs. Efficiency is often measured by the ratio of inputs to outputs, while inefficiency reveals discrepancies in this balance. Overall, the key difference lies in how well resources are utilized to achieve production goals.

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2mo ago

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