Economic Efficiency


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Economic Efficiency

 

the ratio between the results of production—output and material services—on the one hand and expenditures of labor and the means of production on the other. Under socialism, economic efficiency is a key index of economic development. For the capitalist entrepreneur, expenditures take the form of fixed capital stock and circulating productive capital advanced by him, and results take the form of profits. Comparisons of expenditures and results based on report and statistical data for the various branches of the economy and for the national economy as a whole are used in the management of capitalist firms, whose primary motive is the desire to maximize profits.

References in periodicals archive ?
Tight control over resource expenditure and the search for domestic reserves to reduce costs allow MMK to counter the negative impact of market factors, to ensure the competitiveness of its products and to maintain a strong presence amongst the leaders in both the domestic and global steel industry in terms of economic efficiency.
The CCP is mandated under the Competition Act to ensure free competition in all spheres of commercial and economic activity, to enhance economic efficiency and to protect consumers from anti-competitive practices including deceptive marketing practices.
IMD prepares these rankings annually, evaluates and analyses how the countries participating in the report manage their overall economic efficiency and gives an indication of macroeconomic competitiveness or sub-sectors in each country.
The project will contribute for improving the economic efficiency of the entire system and the working conditions of medical staff.
Musayeva noted that the amendments can be divided into five areas: ensuring transparency of taxation, expanding the taxable base, improving tax administration, supporting the development of entrepreneurship, increasing the economic efficiency of benefits and exemptions.
The aim of present study was the estimation of technical, allocative and economic efficiency and inefficiency determinants in off-season capsicum/bell pepper production in Punjab, Pakistan.
The training programme aims to provide useful insight into Korea's development experience and to strengthen the capacity of the CCP to promote free competition in all spheres of commercial and economic activities, to enhance economic efficiency, and to protect consumers from anticompetitive behaviours.
JUMBO CANS offers increased economic efficiency and quality improvement
Management methods will focus on land stewardship, increased productivity and economic efficiency. The workshop is open to the public, but preregistration is requested.
CCP is mandated to ensure a healthy competition in all spheres of commercial and economic activity to enhance economic efficiency and to protect consumers from anti-competitive practices.
"The organizational structure has been changed to increase mobility and management efficiency, deepen the process of Samruk-Kazyna' Transformation Programme, introduce a vertical structure of asset management, and improve the economic efficiency of national companies within the Fund's structure.The new structure was put in place on January 11, 2018," the statement said.

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