| welfare economics: Information from Answers.com (2380 words) |
 | Welfare economics is a branch of economics that uses microeconomic techniques to simultaneously determine the allocational efficiency of a macroeconomy and the income distribution consequences associated with it. |
| Economic efficiency is largely positive and deals with the "size of the pie". |
| Further, efficiency dispenses cardinal measures of utility: ordinal utility, which merely ranks commodity bundles, such as represented by an indifference-curve map is adequate for this analysis. |
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