💡 Words with a Similar Meaning to "Productive efficiency"
Found via reverse dictionary — words that share a conceptual meaning.
| Word | Definition |
|---|---|
| perfect competitionnoun | (economics) A theoretical type of market structure, where there are many firms providing homogeneous (especially, fungible) goods or services, resulting in allocative and productive efficiency in the long run but also precluding profitability. |
| production possibility curvenoun | An economic curve, showing the maximum combinations/possibilities of goods and services that can be produced in a set amount of time given the limited available resources. |
| producer goodnoun | (economics) An item of goods, such as partly finished goods, used as an input in the production of other goods. |
| absolute advantagenoun | (economics) The capability to produce more of a given product using the same quantity or less of a given resource than a competing entity. |
| economies of scalenoun | (economics) The characteristics of a production process in which an increase in the scale of the firm causes a decrease in the long run average cost of each unit. |
| outputnoun | That which is produced by something, especially that which is produced within a particular time period or from a particular effort. |
| factor of productionnoun | (economics) A resource used to produce goods and services, such as labor, land, or capital. |
| law of diminishing returnsnoun | (economics) A relationship between input and output, such that adding units of any one input (labour, capital etc.) to fixed amounts of the others will yield successively smaller increments of output. |
| rational decision making | — |
| producer surplusnoun | The difference between the minimum amount a producer is willing to accept for a product (based on the cost of production) and the current market price. |
| industrial outputnoun | (economics, accounting) What an industry produces, as a national total. |
| comparative advantagenoun | (economics) The ability to produce a particular good at a lower relative opportunity cost than another producer. |
| experience effectnoun | (business) The idea that production costs decrease by a constant percentage whenever production doubles, attributed to improvements in performance as a result of frequent repetition. |
| factornoun | One of the elements, circumstances, or influences which contribute to produce a result. |
| economic rentnoun | (economics) the amount of recompense paid to a factor of production on top of its transfer earnings; this does not encompass costs incurred during the process of production or service |
| transfer earningsnoun | (economics) The amount that a factor of production must be paid in order to prevent it from transferring to an alternative use. |
| diseconomies of scalenoun | (economics) The characteristics that lead to an increase in average costs as a firm grows beyond a certain size. |
| market equilibriumnoun | (economics) A condition where a market price is established through competition such that the amount of goods or services sought by buyers is equal to the amount of goods or services produced by sellers. |
| normal profitnoun | Normal profit refers to the revenue required for a firm to stay within a market in the long-run. |
| economic capitalnoun | (economics) Real or financial capital, or both combined. |
Translate “Productive efficiency” into Another Language
Pick a language — the word will be pre-filled in the translator.