Algorithmic efficiency quantifies the computational resources required for program execution, specifically regarding execution time and memory usage relative to input size ($n$). Candidates must analyse algorithms to determine growth rates, utilizing Big O notation to classify performance into categories such as constant $O(1)$, linear $O(n)$, quadratic $O(n^2)$, and logarithmic $O(\log n)$. Mastery of this topic requires evaluating the trade-offs between time and space complexity to select optimal solutions for large datasets and resource-constrained environments.
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