Economics A-Level
Firm performance and efficiency
What Firm performance and efficiency means in Economics A-Level, as defined for AQA.
Definition of Firm performance and efficiency
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Reference: AQA
The overall outcomes for a firm, which may feature higher average costs and lower profitability than if it were strictly profit-maximising.
Topics that use Firm performance and efficiency
- The objectives of firms (AQA A-Level)
Related terms
- Bounded rationality
- Business objectives
- Corporate governance
- Corporate social responsibility
- Marginal cost
- Marginal revenue
- Principal-agent problem
- Profit maximisation
Using Firm performance and efficiency in the exam
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