Efficiency

Efficiency
A level of performance that describes a process that uses the lowest amount of inputs to create the greatest amount of outputs. Efficiency relates to the use of all inputs in producing any given output, including personal time and energy.

Efficiency is an important attribute because all inputs are scarce. Time, money and raw materials are limited, so it makes sense to try to conserve them while maintaining an acceptable level of output or a general production level.

Being efficient simply means reducing the amount of wasted inputs.


Investment dictionary. . 2012.

Игры ⚽ Поможем написать реферат

Look at other dictionaries:

  • Efficiency — as a technical term may refer to: * Algorithmic efficiency, optimizing the speed and memory requirements of a computer program * Efficient energy use, useful work per quantity of energy ** Energy conversion efficiency, desired energy output per… …   Wikipedia

  • efficiency — apartment efficiency apartment n., a small apartment[4], sometimes furnished, with minimal kitchen and bath facilities. The unit may comprise a single room plus a bathroom, and the kitchen facilities are often open to the main room, or may form a …   The Collaborative International Dictionary of English

  • efficiency — 1590s, power to accomplish something, from L. efficientia (from efficientem; see EFFICIENT (Cf. efficient)) + CY (Cf. cy). In mechanics, ratio of useful work done to energy expended, from 1858. Attested from 1952 as short for efficiency apartment …   Etymology dictionary

  • Efficiency — relationship between the result achieved and the resources used (p. 3.2.15 ISO 9000:2005). Источник …   Словарь-справочник терминов нормативно-технической документации

  • efficiency — ► NOUN (pl. efficiencies) 1) the state or quality of being efficient. 2) an action intended to achieve efficiency …   English terms dictionary

  • efficiency — [e fish′ən sē, ifish′ən sē] n. pl. efficiencies [L efficientia: see EFFICIENT] 1. ability to produce a desired effect, product, etc. with a minimum of effort, expense, or waste; quality or fact of being efficient 2. the ratio of effective work to …   English World dictionary

  • efficiency — I noun ability, ableness, adeptness, adroitness, capability, capableness, command, competence, competency, deftness, dexterity, dexterousness, effectiveness, efficacy, efficientia, excellence, expertness, handiness, helpfulness, mastery, potency …   Law dictionary

  • efficiency — [n] adeptness, effectiveness ability, abundance, adaptability, address, adequacy, capability, capableness, competence, competency, completeness, economy, effectualness, efficacy, energy, expertise, facility, faculty, know how, performance,… …   New thesaurus

  • Efficiency — Reflects the amount of wasted energy. The New York Times Financial Glossary * * * efficiency ef‧fi‧cien‧cy [ɪˈfɪʆnsi] noun [uncountable] MANUFACTURING 1. how well an industrial process, factory, or business works so that it produces as much as… …   Financial and business terms

  • efficiency — Because of futures contracts standardization of terms, large numbers of traders from all walks of life may trade futures, thus allowing prices to be determined readily (it is more likely that someone will want a contract at any given price). The… …   Financial and business terms

  • efficiency — noun ADJECTIVE ▪ ruthless ▪ great, high ▪ attempts to achieve greater efficiency in the production process ▪ improved, increased ▪ …   Collocations dictionary

Share the article and excerpts

Direct link
Do a right-click on the link above
and select “Copy Link”