Examples of Productive Efficiency in the following topics:
-
- Productive efficiency occurs when production of a good is achieved at the lowest resource cost possible, given the level of production of other goods.
- Production efficiency occurs when production of one good is achieved at the lowest resource (input) cost possible, given the level of production of the other good(s).
- By improving these processes, an economy or business can extend its production possibility frontier outward, so that efficient production yields more output.
- This chart shows production possibilities for production of guns and butter.
- Point X is only possible if the means of production improve.
-
- Efficiency is the extent to which effort is used for a task and productivity is the measure of the efficiency of production.
- Productivity is a measure of the efficiency of production.
- Productivity is a ratio of production output to what is required to produce it.
- A production model is a numerical expression of the production process that is based on production data.
- Summarize the Efficiency Movement and the institutions it, in part, bequeathed
-
- Economic efficiency is the use resources to maximize the production of goods; externalities are imperfections that limit efficiency.
- In economics, the term "economic efficiency" is defined as the use of resources in order to maximize the production of goods and services.
- Externalities directly impact efficiency because the production of goods is not efficient when costs are incurred due to damages.
- Efficiency also decreases when potential money earned is lost on non-paying third parties.
-
- Both types of firms' profit maximizing production levels occur when their marginal revenues equals their marginal costs.
- Productive efficiency occurs when a market is using all of its resources efficiently.
- This occurs when a product's price is set at its marginal cost, which also equals the product's average total cost.
- In a monopolistic competitive market, firms always set the price greater than their marginal costs, which means the market can never be productively efficient.
- This occurs when a product's price equals its marginal benefits, which is also equal to the product's marginal costs.
-
- Free markets iterate towards higher levels of allocative efficiency, aligning the marginal cost of production with the marginal benefit for consumers.
- The amount of value generated in a market that efficient equals the social value of the produced output minus the value of resources used in production.
-
- Efficiency ratios for inventory measure how effectively a business uses its inventory resources.
- Efficiency ratios for inventory are used to measure how effectively a business uses its inventory resources in comparison to its industry or competitors.
- A low turnover rate may point to overstocking, obsolescence, or deficiencies in the product line or marketing effort.
-
- Efficiency wage theory is the idea that firms may permanently hold to a real wage greater than the equilibrium wage.
- However, firms may choose to pay wages higher than the market-clearing equilibrium in order to incentivize increased worker productivity or to reduce turnover.
-
- The benefits and cost associated with the production or consumption of any good falls only on the agents engaged in the contract or transaction.
- Voluntary markets of goods with nonattenuated property rights are consistent with the Utilitarian Ethic and Pareto Efficiency.
-
- Wal-Mart asked suppliers to be more efficient in their deliveries through it's Supplier Energy Efficiency Project (SEEP).
- In industrial production, using more efficient manufacturing processes and better materials will generally reduce the production of waste.
- The application of waste minimization techniques has led to the development of innovative and commercially successful replacement products.
- However, waste reduction in one part of the production process may create waste production in another part.
- In fact, under Wal-Mart's Supplier Energy Efficiency Project (SEEP), which is aimed at eliminating emissions from the company's supply chain, suppliers reduced GHG emissions by 3,300 metric tons and saved $200,000 in energy costs.
-
- "fuel efficiency".
- Explain how you can tell and what this means in terms of weight and fuel efficiency.
- For a car that weighs 4000 pounds, predict its fuel efficiency.
- Can we predict the fuel efficiency of a car that weighs 10000 pounds using the least squares line?
- 6.2 What does the correlation imply about the relationship between fuel efficiency and weight of a car?