I'm right back at it again. Just like I've always said, you're too cool for school. You ain't here to make no friends. I'm right back at it again. Just like I have always said, you're too cool for school. You ain't here to make no friends. So here I am, I'm right back at it again. You ain't here to make no friends.
Economic efficiency is, roughly speaking, a situation in which nothing can be improved without something else being hurt. Depending on the context, it is usually one of the following two related concepts: 1  Allocative or Pareto efficiency: any changes made to assist one person would harm another.
Definition of Productive efficiency. Productive efficiency is concerned with producing goods and services with the optimal combination of inputs to produce maximum output for the minimum cost. To be productively efficient means the economy must be producing on its production possibility frontier.roductive efficiency is concerned with producing goods and services with the optimal combination of inputs to produce maximum output for the minimum cost.