ECONOMIC EFFICIENCY AND THE ROLE OF THE STATE IN MARKET ECONOMY
DOI:
https://doi.org/10.26458/1712Keywords:
economic efficiency, effects, efforts, performance, productive efficiency. JEL Classification, A 12Abstract
Economic efficiency emerges after comparing the effects of some action with the efforts needed to produce it and has general applicability in decision-making in any country. It can be said that economic efficiency is closely related to the use of resources in the economy and its essential feature is the stress/effects causal ratio.In the competitive system of the free market, the activity of the economic agents provides performance to the extent that it has a high efficiency. Any human activity is, at the same time, resources consuming and effects producing.In the economic theory, the concept of efficiency characterizes the activity developed in various fields: economic, social, educational, health, sports, etc. More concretely, it reflects the physical, intellectual and moral (in the deontological sense) effort made to achieve a goal or the pre-established objective, respectively the relationship between two waves: the resources spent and the resulting effects, expressed in physical (pieces, kg, and meter) or value (lei) units of measurement.References
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