Business Studies, asked by shashankupandith2002, 9 months ago

what is efficiency ?

Answers

Answered by Anonymous
2

Explanation:

Efficiency is the ability to avoid wasting materials, energy, efforts, money, and time in doing something or in producing a desired result. In a more general sense, it is the ability to do things well, successfully, and without waste.

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Answered by meenuchauhans2003
2

Answer:

Efficiency and productivity. Efficiency is about making the best possible use of resources. Efficient firms maximise outputs from given inputs, and so minimise their costs. By improving efficiency a business can reduce its costs and improve its competitiveness. There is a difference between production and productivity.

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