productive efficiency

Is It Necessary That A Technically Efficient Firm Is Economically Efficient?

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Is It Necessary That A Technically Efficient Firm Is Economically Efficient? Technical efficiency is really a prerequisite for economic efficiency. This means that in order to achieve economic efficiency, one should have achieved technical efficiency. Only if technical efficiency is achieved can one get better economic efficiency. Are technologically efficient and economically efficient same thing?

What Economic Concepts Are Shown By The PPF?

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What Economic Concepts Are Shown By The PPF? What economic concepts are shown by the PPF? A PPF illustrates several economic concepts, such as allocative efficiency, economies of scale, opportunity cost (or marginal rate of transformation), productive efficiency, and scarcity of resources (the fundamental economic problem that all societies face). What does PPF show in