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Productive efficiency

In microeconomic theory, productive efficiency (or production efficiency) is a situation in which the economy or an economic system (e.g., bank, hospital, industry, country) operating within the constraints of current industrial technology cannot increase production of one good without sacrificing production of another good. In simple terms, the concept…

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Productive efficiency

Nodes27
Edges26
Triples1
Avg. degree1.93
Density0.074074
Components1

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Productive efficiency

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is a · 1
Productive efficiency → aspect of economic efficiency that focuses on how to maximize output of a chosen product portfolio

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Important terminology

production efficiency productive output frontier economy operating without may efficient inputs good equilibrium monopolistic function economic industry technology possibility curve

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SubjectPredicateObjectConfidenceSrc
Productive efficiencyis aaspect of economic efficiency that focuses on how to maximize output of a chosen product portfolio0.90text

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