MLchartDataset catalogue

Economic efficiency

Term · Environment · MLC-T-ENV-008894

The maximization of social welfare. Under the efficient level of production, there is no way to rearrange production or reallocate goods such that someone is better off without making someone else worse off in the process.

Table 1. Record
IdentifierMLC-T-ENV-008894
FieldEnvironment
SubjectGeneral environmental
ReferencesPreparing Economic Analyses Glossary; Economic Analyses Glossary
Record as JSON 
{
  "id": "MLC-T-ENV-008894",
  "term": "Economic efficiency",
  "field": "Environment",
  "definition": "The maximization of social welfare. Under the efficient level of production, there is no way to rearrange production or reallocate goods such that someone is better off without making someone else worse off in the process.",
  "subject": "General environmental",
  "references": [
    "Preparing Economic Analyses Glossary; Economic Analyses Glossary"
  ],
  "url": "https://mlchart.com/terminology/environment/economic-efficiency/"
}

Record 8,894 of 30,736 in Environment terminology (MLC-0121). Request the full dataset.