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22 relations: Allocative efficiency, Business, Competition (economics), Economy, Empire-building, George Stigler, Government failure, Government waste, Harvey Leibenstein, Inefficiency, Market power, Market structure, Monopoly, Outline of industrial organization, Overproduction, Pareto efficiency, Perfect competition, Productive efficiency, Profit (accounting), The American Economic Review, The New Palgrave Dictionary of Economics, Trade union.
Allocative efficiency
Allocative efficiency is a state of the economy in which production represents consumer preferences; in particular, every good or service is produced up to the point where the last unit provides a marginal benefit to consumers equal to the marginal cost of producing.
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Business
Business is the activity of making one's living or making money by producing or buying and selling products (goods and services).
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Competition (economics)
In economics, competition is a condition where different economic firmsThis article follows the general economic convention of referring to all actors as firms; examples in include individuals and brands or divisions within the same (legal) firm.
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Economy
An economy (from Greek οίκος – "household" and νέμoμαι – "manage") is an area of the production, distribution, or trade, and consumption of goods and services by different agents.
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Empire-building
Empire-building is the practice of attempting to obtain greater power and authority within an organization for the purposes of self-aggrandizement, particularly by having extra staff or subordinates.
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George Stigler
George Joseph Stigler (January 17, 1911 – December 1, 1991) was an American economist, the 1982 laureate in Nobel Memorial Prize in Economic Sciences and a key leader of the Chicago School of Economics.
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Government failure
Government failure, in the context of public economics, is an economic inefficiency caused by a government intervention, if the inefficiency would not exist in a true free market.
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Government waste
Government waste is the opinion that the government does not spend money in an acceptable manner.
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Harvey Leibenstein
Harvey Leibenstein (1922 – February 28, 1994) was a Ukrainian-born American Jewish economist.
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Inefficiency
The term inefficiency generally refers to an absence of efficiency.
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Market power
In economics and particularly in industrial organization, market power is the ability of a firm to profitably raise the market price of a good or service over marginal cost.
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Market structure
Market structure has historically emerged in two separate types of discussions in economics, that of Adam Smith on the one hand, and that of Karl Marx on the other hand.
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Monopoly
A monopoly (from Greek μόνος mónos and πωλεῖν pōleîn) exists when a specific person or enterprise is the only supplier of a particular commodity.
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Outline of industrial organization
The following outline is provided as an overview of and topical guide to industrial organization: Industrial organization – describes the behavior of firms in the marketplace with regard to production, pricing, employment and other decisions.
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Overproduction
In economics, overproduction, oversupply, excess of supply or glut refers to excess of supply over demand of products being offered to the market.
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Pareto efficiency
Pareto efficiency or Pareto optimality is a state of allocation of resources from which it is impossible to reallocate so as to make any one individual or preference criterion better off without making at least one individual or preference criterion worse off.
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Perfect competition
In economics, specifically general equilibrium theory, a perfect market is defined by several idealizing conditions, collectively called perfect competition.
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Productive efficiency
Productive efficiency is a situation in which the economy could not produce any more of one good without sacrificing production of another good.
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Profit (accounting)
Profit, in accounting, is an income distributed to the owner in a profitable market production process (business).
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The American Economic Review
The American Economic Review is a peer-reviewed academic journal of economics.
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The New Palgrave Dictionary of Economics
The New Palgrave Dictionary of Economics (2008), 2nd ed., is an eight-volume reference work on economics, edited by Steven N. Durlauf and Lawrence E. Blume and published by Palgrave Macmillan.
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Trade union
A trade union or trades union, also called a labour union (Canada) or labor union (US), is an organization of workers who have come together to achieve many common goals; such as protecting the integrity of its trade, improving safety standards, and attaining better wages, benefits (such as vacation, health care, and retirement), and working conditions through the increased bargaining power wielded by the creation of a monopoly of the workers.
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Technical efficiency, X inefficiency, X-Efficiency, X-efficiency, X-inefficiency model.
References
[1] https://en.wikipedia.org/wiki/X-inefficiency
