Khan Academy https://www.khanacademy.org/humanitie
Chapter 1 DQ
Q What is efficiency? What is effectiveness? Imagine you manage a local car wash. Which criteria might you use to determine your efficiency as a manager? Which criteria might you use to determine your effectiveness?
Efficiency is the primary reduction in the amount of wasted resources that are used to produce a given number of goods or services which is known as the output. It signifies a peak level of performance that uses the least amount of inputs to achieve the highest amount of production. Efficiency can be of three types- Economic efficiency, market efficiency and operational efficiency (BOYLE & BANTON, 2020).