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 ?
Foreign exchange market efficiency and the uncovered interest-rate parity
Commenting on the report's findings, Saqr Gobash, Labour Minister, says: "the advanced positions attained by the UAE in the area of labour market efficiency reflects the political leadership's vision for providing a sustainable and stable labour market based on the realization of a balanced relationship between the rights and responsibilities of the bilateral production process i.
UNDER THE FRAMEWORK, THE GOAL OF INDEPENDENCE is "to support user reliance on the financial reporting process and to enhance capital market efficiency.
One shortcoming of this otherwise lucid and admirable book is the lack of a historic context that would explain why the historic social justice standard gave way to that of market efficiency.
With respect to the labor market efficiency pillar, the report ranks the UAE 5th in the world for retaining national qualified manpower, the seventh in flexibility of wage determination , the tenth in professional code of ethics which stresses upon measurement of workforce productivity vis- -vis working hours, and seventeenth on the flexibility mechanisms governing hiring and firing practices.
However," he concluded, "the increased market efficiency derived from improved issuer disclosure would benefit not only investors by alerting them to potential problems earlier, but also municipal issuers and their taxpayers, who would have lower financing cost.
And nothing breeds market efficiency like having an investor's advocate on patrol.