Increased Efficiency
Definition
Increased efficiency refers to the ability to produce more output (goods or services) with the same amount of input (resources such as labor, time, and money), or producing the same output with less input.
Related terms
Productivity: The rate at which goods are produced or work is completed.
Economies of Scale: The cost advantage that arises with increased output of a product. Economies of scale occur when increasing production allows greater efficiency and hence lower costs per unit produced.
Optimization: The action of making the best or most effective use of a situation or resource.
"Increased Efficiency" appears in:
Study guides (1)
AP Human Geography - 5.5 The Green Revolution
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About Fiveable
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CCPA Privacy Policy
Resources
Cram Mode
AP Score Calculators
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Glossary
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Crisis Text Line
Help Center
© 2024 Fiveable Inc. All rights reserved.
AP® and SAT® are trademarks registered by the College Board, which is not affiliated with, and does not endorse this website.