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Efficiency is the often measurable ability to avoid making mistakes or wasting materials, energy, efforts, money, and time while performing a task. In a more general sense, it is the ability to do things well, successfully, and without waste.
Antonyms for effectiveness include: uselessness, ineffectiveness. [13] Simply stated, effective means achieving an effect, and efficient means getting a task or job done it with little waste. To illustrate: suppose, you build 10 houses, very fast and cheap (efficient), but no one buy them.
An antonym is one of a pair of words with opposite meanings. Each word in the pair is the antithesis of the other. A word may have more than one antonym. There are three categories of antonyms identified by the nature of the relationship between the opposed meanings.
Efficiency is the extent to which time or effort is well used for the intended task or purpose. Efficiency may also refer to: Efficiency (aerodynamics), the amount of lift divided by the aerodynamic drag; Efficiency (apartment), a one-room apartment; Efficiency (basketball), a statistical benchmark to compare the overall value of players
In economics, deadweight loss is the loss of societal economic welfare due to production/consumption of a good at a quantity where marginal benefit (to society) does not equal marginal cost (to society) – in other words, there are either goods being produced despite the cost of doing so being larger than the benefit, or additional goods are not being produced despite the fact that the ...
In microeconomics, economic efficiency, depending on the context, is usually one of the following two related concepts: [1] Allocative or Pareto efficiency : any changes made to assist one person would harm another.
Energy conversion efficiency depends on the usefulness of the output. All or part of the heat produced from burning a fuel may become rejected waste heat if, for example, work is the desired output from a thermodynamic cycle.
In a business context, operational efficiency is a measurement of resource allocation and can be defined as the ratio between an output gained from the business and an input to run a business operation. When improving operational efficiency, the output to input ratio improves.