单词 | efficient resource allocation |
释义 | efficient resource allocation A situation in which it is not possible to reallocate available resources so as to achieve more of one objective without accepting less of another. This applies whether the resources are those available to an individual, a firm, or a government. If an individual could gain by shifting expenditure from one good or service to another, the existing allocation is not efficient. If a firm could shift resources so as to achieve more of one objective, profits for example, without accepting less of another, say growth, the existing allocation is inefficient. |
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