| 单词 | technical efficiency |
| 释义 | technical efficiency Those aspects of efficiency concerned with getting the largest possible outputs for given inputs, or the smallest possible inputs for given outputs. This is efficiency in production. It is distinguished from efficiency in exchange, which is concerned with the distribution of outputs between different users, and the efficient choice of the set of outputs to produce. Thus while technical efficiency is a necessary condition for the overall efficiency of the economy, it is not sufficient: an economy could be better off producing the right mix of goods by technically inefficient methods, than producing an unsuitable set of goods with complete technical efficiency. |
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