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What is the efficiency criterion that describes a situation where goods and services are produced at the lowest possible cost?
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In economics what is a situation where the goal of efficiency is being met?
When you do something with as little waste as possible.
What is the definition of production efficiency?
Production efficiency is a situation in which it is not possible to produce any more units of a good without giving up the opportunity to produce another good unless a change occurs in available productive resources.
What is the definition of perfect knowledge in economics?
In economics, perfect knowledge describes the state in which a consumer has all possible information in order to make a decision. This situation is ideal, not usual.
Explain the concept of Market Efficiency Is Arbitrage possible in an efficient market Why or why not What is some of the evidence for and against market efficiency No more than two pages please?
what are the types of market efficiency in nigeria?
What is an optimum resource allocation?
Optimum allocation is when productive and allocative efficiency co-exist. Productive efficiency is achieved when when products are made with the least possible use of the resources, i.e, by incurring lowest possible costs in producing them Allocative efficiency is achieved when the combination of products produced provide consumers the greatest possible satisfaction, i.e, goods which are most wanted are produced When both these elements are present, there is also economics efficiency. This means that resources are used in the best way possible, i.e, producing the goods which are most wanted with the least possible use of resources
In economics what is a situation where the goal of efficiency is being met?
When you do something with as little waste as possible.
What is actual criterion?
Or best real-world respresentative of the ultimate criterion, which we develop to reflect or overlap with the ultimate criterion as much as possible.
What is the definition of production efficiency?
Production efficiency is a situation in which it is not possible to produce any more units of a good without giving up the opportunity to produce another good unless a change occurs in available productive resources.
What does fuel efficiency mean?
It describes how good an engine is at turning fuel into the desired form of energy. High fuel efficiency means that as much as possible of the energy in the fuel has turned into whatever other type of energy that was intended. Low fuel efficiency means there's a lot lost in the transition.
When tables are joined in query it is not possible to restrict retrieval by using criterion?
False
What is the definition of perfect knowledge in economics?
In economics, perfect knowledge describes the state in which a consumer has all possible information in order to make a decision. This situation is ideal, not usual.
How does effieciency of the machine affects it's performance?
if a machine is not efficient, it cannot fully utilise its performance. actual performance = efficiency x possible performance efficiency = actual performance / possible performance efficiency is always a decimal number less than 1, as no machine is perfect in terms of efficiency
What word means without certainty?
The word you are looking for is "uncertainty." It describes a lack of sureness or confidence in a situation or outcome.
What are Possible reasons for the unfavourable efficiency variances in the period Direct material efficiency variance?
Changes in quality of inputs from manufacturer.
Which number does not belong 123456789?
Since there is only one number given, it is not possible to determine the criterion for inclusion. So there cannot be an answer.
Is it possible to reason your way out of an unreasonable situation?
Possible yes it is the only way out of an unreasonable situation is with a reasonable one
Would a medical condition be grounds to lose custody of a child?
Yes. That's possible depending on the situation. See related question.Yes. That's possible depending on the situation. See related question.Yes. That's possible depending on the situation. See related question.Yes. That's possible depending on the situation. See related question.
