Types of Efficiency
An Explanation of the Four Types of Efficiency
Allocative Efficiency |
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Productive Efficiency |
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Dynamic Efficiency |
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X-inefficiency |
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Author
Steve VorsterExpertise
Economics & Business Subject Lead
An Explanation of the Four Types of Efficiency
Allocative Efficiency |
|
Productive Efficiency |
|
Dynamic Efficiency |
|
X-inefficiency |
|
A perfectly competitive market on the top which experiences allocative & productive efficiency. An imperfect market on the bottom in which inefficiencies exist at the profit maximisation level of output
Perfectly competitive market diagram observations
Imperfectly competitive market diagram observations
to absolutely everything:
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Steve has taught A Level, GCSE, IGCSE Business and Economics - as well as IBDP Economics and Business Management. He is an IBDP Examiner and IGCSE textbook author. His students regularly achieve 90-100% in their final exams. Steve has been the Assistant Head of Sixth Form for a school in Devon, and Head of Economics at the world's largest International school in Singapore. He loves to create resources which speed up student learning and are easily accessible by all.