Question

Write a short note on efficiency of resource use.​

Answer 1

Answer:

1. Efficiency is the fundamental reduction in the amount of wasted resources that are used to produce a given number of goods or services (output).
2. Economic efficiency results from the optimization of resource-use to best serve an economy.

Explanation:

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Answer 2

Answer:

Efficiency is the fundamental reduction in the amount of wasted resources that are used to produce a given number of goods or services (output).

Economic efficiency results from the optimization of resource-use to best serve an economy.

Explanation:

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