Efficiency

{
  "id": "MLC-T-LAW-001810",
  "term": "Efficiency",
  "field": "Law",
  "definition": "The optimal allocation of resources to maximize societal welfare or individual utility, often considered in economic analysis of legal rules. It involves achieving a desired outcome with the least waste of effort or expense. In law and economics, efficiency is a primary criterion for evaluating legal systems and policies.",
  "url": "https://mlchart.com/terminology/law/efficiency/"
}