FACTOID # 144: A three-minute local phone call in Ecuador costs 60 U.S. cents, 60 times as much as in Ukraine, Macedonia, Saudi Arabia, Nepal, or Uzbekistan.
 
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Encyclopedia > Economic efficiency

There are several measures of economic efficiency:

For applications of these principles see:

See also


  Results from FactBites:
 
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.
  More results at FactBites »


 

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