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The first fundamental welfare theorem provides some basis for the belief in efficiency of market economies, as it states that any perfectly competitive market equilibrium is Pareto efficient. The assumption of perfect competition means that this result is only valid in the absence of market imperfections , which are significant in real markets.
A learning curve is a graphical representation of the relationship between how proficient people are at a task and the amount of experience they have. Proficiency (measured on the vertical axis) usually increases with increased experience (the horizontal axis), that is to say, the more someone, groups, companies or industries perform a task, the better their performance at the task.
Proficiency may refer to: Language proficiency, the ability of an individual to speak or perform in an acquired language; Expertise; Skill, the learned capacity to carry out predetermined results often with the minimum outlay of time, energy, or both; Uncertainty coefficient, an information-theoretic measure of nominal association
Call it telecommuting, telework or working from home: It appears more of us are earning at least part of our salaries from home, and with the boss's blessings. According to a survey by the human ...
Proficient performers adapt better to changing circumstances but still rely on rule-based decision-making for actions. The transition to expertise requires further letting go of rules and procedures while gaining more direct experience learning which intuited perspectives work in which kind of situation.
Common energy efficiency label on appliances to indicate their energy efficiency in a clear manner. Efficient energy use, or energy efficiency, is the process of reducing the amount of energy required to provide products and services. There are many technologies and methods available that are more energy efficient than conventional systems.
In part, ACTFL's definition of proficiency is derived from mandates issued by the U.S. government, declaring that a limited English proficient student is one who comes from a non-English background and "who has sufficient difficulty speaking, reading, writing, or understanding the English language and whose difficulties may deny such an ...
Efficiency is very often confused with effectiveness. In general, efficiency is a measurable concept, quantitatively determined by the ratio of useful output to total useful input. Effectiveness is the simpler concept of being able to achieve a desired result, which can be expressed quantitatively but does not usually require more complicated ...