What is economic efficiency, Microeconomics

Assignment Help:

Q. What is Economic efficiency?

Economic efficiency Explain a situation where the total value of the end uses, to which the resources are put, is maximised. A consequence is that all resources will be put to their highest value uses.


Related Discussions:- What is economic efficiency

Policy process, explain stages and various coordination mechanism involve...

explain stages and various coordination mechanism involved in policy process

Neoclassical economics, In neoclassical economics, equilibrium exists when ...

In neoclassical economics, equilibrium exists when supply equals demand for a particular commodity. General equilibrium is a special (purely hypothetical) condition in which every

Find the equilibrium precaution, Mr. Smith can cause an accident, which ent...

Mr. Smith can cause an accident, which entails a monetary loss of $1000 to Ms. Adams. The likelihood of the accident depends on the precaution decisions by both individuals. Spe

Difference between anticipated and unanticipated inflation, Explain inflati...

Explain inflation, and the difference between anticipated and unanticipated inflation.         Answer   Inflation is the persistent rise in the general price level in the e

Demand and supply, what is price elasticity of demand ? write briefly with ...

what is price elasticity of demand ? write briefly with explaining it''s type.

Returns from education, Returns from Education Monetary benefits from ...

Returns from Education Monetary benefits from education are called as returns. Such benefits accruing to an individual are called as private returns. The sum of all private re

Short run production period and long run production period, Short run produ...

Short run production period and long run production period: The short run is a period of production during which some factors of production are fixed and some too are variable

Consumer surplus, detail of consumer surplus with examples

detail of consumer surplus with examples

Write Your Message!

Captcha
Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd