Allocative efficiency/Definition: Difference between revisions
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The efficiency with which available resources are allocated between the production of alternative combinations of products (see [[economic efficiency]]). | The efficiency with which available resources are allocated between the production of alternative combinations of products (see [[economic efficiency]]). | ||
Latest revision as of 21:51, 22 May 2008
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Allocative efficiency [r]: The efficiency with which available resources are allocated between the production of alternative combinations of products (see economic efficiency).