efficiency in production
11Production–possibility frontier — In economics, a production–possibility frontier (PPF), sometimes called a production–possibility curve or product transformation curve, is a graph that compares the production rates of two commodities that use the same fixed total of the factors… …
12Efficiency wages — In labor economics, the efficiency wage hypothesis argues that wages, at least in some markets, are determined by more than simply supply and demand. Specifically, it points to the incentive for managers to pay their employees more than the… …
13Efficiency Movement — Part of the Politics series on Progressivism Schools American Progressivism Modern liberalism Progressive education Ideas Anti racism Civil liberties …
14Production function — Graph of Total, Average, and Marginal Product In microeconomics and macroeconomics, a production function is a function that specifies the output of a firm, an industry, or an entire economy for all combinations of inputs. This function is an… …
15Efficiency — Reflects the amount of wasted energy. The New York Times Financial Glossary * * * efficiency ef‧fi‧cien‧cy [ɪˈfɪʆnsi] noun [uncountable] MANUFACTURING 1. how well an industrial process, factory, or business works so that it produces as much as… …
16efficiency — 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… …
17efficiency — noun ADJECTIVE ▪ ruthless ▪ great, high ▪ attempts to achieve greater efficiency in the production process ▪ improved, increased ▪ …
18Production Efficiency — 1. An economic level at which the economy can no longer produce additional amounts of a good without lowering the production level of another product. This will happen when an economy is operating along its production possibility frontier. 2. The …
19Efficiency Variance — The difference between the theoretical amount of inputs required to produce a unit of output and the actual amount of inputs used. In manufacturing, efficiency variance can be used to analyze the effectiveness with respect to labor, materials,… …
20Production system — A production system (or production rule system) is a computer program typically used to provide some form of artificial intelligence, which consists primarily of a set of rules about behavior. These rules, termed productions, are a basic… …
