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Efficiency is very often confused with effectiveness. In general, efficiency is a measurable concept, quantitatively determined by the ratio of useful output to total useful input. Effectiveness is the simpler concept of being able to achieve a desired result, which can be expressed quantitatively but does not usually require more complicated ...
In microeconomics, economic efficiency, depending on the context, is usually one of the following two related concepts: [1] Allocative or Pareto efficiency : any changes made to assist one person would harm another.
In management, effectiveness relates to getting the right things done. Peter Drucker reminds his readers that "effectiveness can and must be learned". [4] The term "institutional effectiveness" has been widely adopted within higher education settings [5] to assess "how well an institution is achieving its mission and goals". [6]
The efficient or moving cause of a change or movement. This consists of things apart from the thing being changed or moved, which interact so as to be an agency of the change or movement. For example, the efficient cause of a table is a carpenter, or a person working as one, and according to Aristotle the efficient cause of a child is a parent.
Cost-effectiveness analysis focuses on maximising the average level of an outcome, distributional cost-effectiveness analysis extends the core methods of CEA to incorporate concerns for the distribution of outcomes as well as their average level and make trade-offs between equity and efficiency, these more sophisticated methods are of ...
Unlike efficacy (effectiveness), which is a unit of measurement, efficiency is a unitless number expressed as a percentage, requiring only that the input and output units be of the same type. The luminous efficiency of a light source is thus the percentage of luminous efficacy per theoretical maximum efficacy at a specific wavelength.
Here are eight of the most effective ways to improve your home efficiency, all of them potentially available for a federal tax credit, if you meet U.S. Department of Energy eligibility requirements.
Common energy efficiency label on appliances to indicate their energy efficiency in a clear manner. Efficient energy use, or energy efficiency, is the process of reducing the amount of energy required to provide products and services. There are many technologies and methods available that are more energy efficient than conventional systems.