Efficiency
What Efficiency means in Economics B A-Level, as defined for Pearson Edexcel.
Definitions of Efficiency
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Reference: Pearson Edexcel
Operating at or above maximum capacity can reduce labour productivity due to fatigue, so over-utilisation is not the same as high productivity.
Improved by lean production techniques, which aim to eliminate waste of time, materials and effort.
Topics that use Efficiency
- Capacity utilisation (Pearson Edexcel A-Level)
- Efficiency and competitiveness using lean production (Pearson Edexcel A-Level)
Related terms
- Quality control
- Buffer stock
- Competitive advantage
- Cost management
- Employee empowerment
- Expanding capacity
- Full capacity
- Just in time (JIT)
Using Efficiency in the exam
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