Extreme cases are situations such as "What if we had a 100% income tax rate? (a) What is eco-efficiency? After which, the net reduction in fuel cost due to this shortest path may be taken as an economic indicator of level of economic efficiency achieved… ; Productive efficiency… The present paper is the result of the approach and research from a common perspective of two issues regarding economic development, with different time lengths: economic sustainability – one of the newest and most modern theories related to the meaning and context of economic development and economic efficiency … In most cases, economic efficiency is achieved through: A) incentives built into a market economy. Efficiency is a favourite objective of economists and administrators, but not … In microeconomics, economic efficiency is, roughly speaking, a situation in which nothing can be improved without something else being hurt. Efficiency, in economics and organizational analysis, a measure of the input a system requires to achieve a specified output.A system that uses few resources to achieve its goals is efficient, in contrast to one that wastes much of its input. Four energy and economy-wide models under carbon mitigation scenarios are compared. In studying economic policies, it is always useful to study extreme cases. There are four main streams of research on the economic efficiency of means of transport. Eco-efficiency was debated by the British Crop Protection Council (BCPC) Forum (2004) and by Atkinson & Wilkins (2004), but there is no single accepted definition of eco-efficiency.These two papers indicated that eco-efficiency is related to both ‘ecology’ and ‘economy’ and is concerned … Internal economies of scale can be because of technical improvements, managerial efficiency, financial ability, monopsony power, or access to large networks. Microeconomics analyzes basic elements in the economy… (2010), who also evaluate the efficiency … While wholly unrealistic, they do give very stark examples of what direction key economic … Depending on the context, it is usually one of the following two related concepts: Allocative or Pareto efficiency: any changes made to assist one person would harm another. Productive efficiency is not really achieved through tariff design, but through efficient remuneration of each … External economies are ones where companies can influence economic priorities, often leading to preferential treatment by governments. ", or "What if we raised the minimum wage to $50.00 an hour?". Two types of economic efficiency are of interest here: Productive: involving the production of the good or service at the lowest possible cost, for a predefined level of quality. This paper reviews the current knowledge in the economics literature on the causal relationship between fiscal decentralization and economic growth, whether this relationship is uni-directional or bi-directional, and to what extent synergies appear to exist between fiscal decentralization, on the one hand, and economic growth, on the other. B) regulation of the invisible hand. Production efficiency is an economic term describing a level in which an economy or entity can no longer produce additional amounts of a good without lowering the production level of another product. Introduction. Economic efficiency. Economics (/ ɛ k ə ˈ n ɒ m ɪ k s, iː k ə-/) is the social science that studies how people interact with value; in particular, the production, distribution, and consumption of goods and services.. Economics focuses on the behaviour and interactions of economic agents and how economies work. D) maximizing equity. 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