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productive efficiency

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  • Productive efficiency — occurs when the economy is operating at its production possibility frontier (PPF). This takes place when production of one good is achieved at the lowest cost possible, given the production of the other good(s). Equivalently, it is when the… …   Wikipedia

  • efficiency engineer — ☆ efficiency engineer or efficiency expert n. a person whose work is to increase the productive efficiency of a business or industry by finding better methods of performing various operations, reducing waste and costs, etc. * * * …   Universalium

  • efficiency engineer — ☆ efficiency engineer or efficiency expert n. a person whose work is to increase the productive efficiency of a business or industry by finding better methods of performing various operations, reducing waste and costs, etc …   English World dictionary

  • productive — pro|duc|tive [ prə dʌktıv ] adjective ** 1. ) making or growing things in large quantities, especially so that they can be sold: During their most productive period, both mills were controlled by the Marling family. ways of making more productive …   Usage of the words and phrases in modern English

  • productive */*/ — UK [prəˈdʌktɪv] / US adjective 1) a) making or growing things in large quantities, especially so that they can be sold During their most productive period, both mills were controlled by the Marling family. ways of making more productive use of… …   English dictionary

  • productive capacity — UK US noun [U] PRODUCTION, ECONOMICS ► the ability of a country, area, organization, etc. to produce things: »The intention of all these ideas is to increase the efficiency, competitiveness, and, ultimately, the productive capacity of the economy …   Financial and business terms

  • Efficiency wages — In labor economics, the efficiency wage hypothesis argues that wages, at least in some markets, are determined by more than simply supply and demand. Specifically, it points to the incentive for managers to pay their employees more than the… …   Wikipedia

  • Economic efficiency — is used to refer to a number of related concepts. A system can be called economically efficient if: * No one can be made better off without making someone else worse off. * More output cannot be obtained without increasing the amount of inputs. * …   Wikipedia

  • Dynamic efficiency — is a term in economics, which refers to an economy that appropriately balances short run concerns (static efficiency) with concerns in the long run (focusing on encouraging research and development).[1] Through dynamic efficiency, such an economy …   Wikipedia

  • Allocative efficiency — is a theoretical measure of the benefit or utility derived from a proposed or actual selection in the allocation or allotment of resources.[1][2] Although there are different standards of evaluation for the concept of allocative efficiency, the… …   Wikipedia

  • Variable Overhead Efficiency Variance — The difference between actual variable overhead based on the true time taken to manufacture a product, and standard variable overhead based on the time budgeted for it. It arises from variance in productive efficiency. For example, the number of… …   Investment dictionary

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