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Simply stated, effective means achieving an effect, and efficient means getting a task or job done it with little waste. To illustrate: suppose, you build 10 houses, very fast and cheap (efficient), but no one buy them. In contrary to building 5 houses same budget and time as 10 houses but you get all 5 sold and the buyers are happy (effective).
For instance, you could correctly say, “The effects of climate change can be felt worldwide” and “This medicine may have some side effects.” “Affect,” meanwhile, is a verb that means ...
In economics, effective demand (ED) in a market is the demand for a product or service which occurs when purchasers are constrained in a different market. It contrasts with notional demand , which is the demand that occurs when purchasers are not constrained in any other market.
Efficacy is the ability to perform a task to a satisfactory or expected degree. The word comes from the same roots as effectiveness, and it has often been used synonymously, although in pharmacology a distinction is now often made between efficacy and effectiveness.
The movement developed during the 2000s, and the name effective altruism was coined in 2011. Philosophers influential to the movement include Peter Singer, Toby Ord, and William MacAskill. What began as a set of evaluation techniques advocated by a diffuse coalition evolved into an identity. [5]
Irresistible grace (also called effectual grace, [1] effectual calling, or efficacious grace) is a doctrine in Christian theology particularly associated with Calvinism, which teaches that the saving grace of God is effectually applied to those whom he has determined to save (the elect) and, in God's timing, overcomes their resistance to obeying the call of the gospel, bringing them to faith ...
In economics, organizational effectiveness is defined in terms of profitability and the minimisation of problems related to high employee turnover and absenteeism. [4] As the market for competent employees is subject to supply and demand pressures, firms must offer incentives that are not too low to discourage applicants from applying, and not too unnecessarily high as to detract from the firm ...
The effective interest rate (EIR), effective annual interest rate, annual equivalent rate (AER) or simply effective rate is the percentage of interest on a loan or financial product if compound interest accumulates in periods different than a year. [1] It is the compound interest payable annually in arrears, based on the nominal interest rate ...