What is Productive Efficiency?
Productive efficiency refer to points along the production frontier where it is impossible to produce more of one good without decreasing the quantity that is produced of another good.
Related Topics
- Budget Constraint
- Radner Equilibrium
- Opportunity Cost
- Opportunity Set
- Marginal Analysis
- Utility
- Self Interest
- Cost-Benefit Analysis
- Enlightened Self-Interest
- Fisher’s Separation Theorem
- Ratchet Effect
- Total Utility (Economics)
- Efficiency Principle
- Expected Utility
- Subjective Theory of Value
- Positional Goods
- Utilitarianism
- Indifference Curve
- Time Preference Theory of Interest
- Incentives
- Marginal Benefit
- Marginal utility
- Diminishing Marginal Utility
- Sunk Costs
- Production Possibilities Frontier
- Law of Diminishing Returns
- Economic Efficiency
- Efficiency Theory
- Productive Efficiency
- Capacity Utilization Rate
- Allocative Efficiency
- Pareto Efficient
- Comparative Advantage
- Criticisms of the Economic Approach
- Behavioral Economics
- Normative Economics
- Positive Economics
- Invisible Hand
- Sunk cost