economic efficiency and the role of the state in market economy
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ID: 259673
2017
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Abstract
Economic efficiency emerges after comparing the effects of some action with the efforts needed to produce it and has general applicability in decision-making in any country. It can be said that economic efficiency is closely related to the use of resources in the economy and its essential feature is the stress/effects causal ratio.In the competitive system of the free market, the activity of the economic agents provides performance to the extent that it has a high efficiency. Any human activity is, at the same time, resources consuming and effects producing.In the economic theory, the concept of efficiency characterizes the activity developed in various fields: economic, social, educational, health, sports, etc. More concretely, it reflects the physical, intellectual and moral (in the deontological sense) effort made to achieve a goal or the pre-established objective, respectively the relationship between two waves: the resources spent and the resulting effects, expressed in physical (pieces, kg, and meter) or value (lei) units of measurement.
| Reference Key |
roca2017annalseconomic
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|---|---|
| Authors | ;Petru ROŞCA |
| Journal | case reports in endocrinology |
| Year | 2017 |
| DOI |
10.26458/1712
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| URL | |
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