Thread: Economic Efficiency
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Unread 26 May 2008, 18:11   #4
Tomkat
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Re: Economic Efficiency
Efficiency is creating/doing a task by using the least amount of resources possible without any loss in quantity or quality (I have no idea what the dictionary definition is, but I'd assume it's something like that).
Time is a resource, but if the extra time incurred offsets any costs in production etc then it's an acceptable sacrifice.
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