The ability of an economic system to provide what people what, given their incomes. Given the fact that incomes and resources are both finite, efficiency will be of the utmost importance in determining if people's wants are satisfied by the workings of the economic system.
Free market economies usually provide high levels of economic efficiency.
by abu yahya June 23, 2008
5 Words related to economic efficiency

Free Daily Email

Type your email address below to get our free Urban Word of the Day every morning!

Emails are sent from daily@urbandictionary.com. We'll never spam you.

×