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NET PRIVATE DOMESTIC INVESTMENT: Expenditures on capital goods to be used for productive activities in the domestic economy that are undertaken by the business sector during a given time period, after deducting capital depreciation. More specifically net private domestic investment is found be subtracting the capital consumption adjustment from gross private domestic investment. It's primary function is to measure the net increase in the capital stock resulting from investment.
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                           ECONOMIC EFFICIENCY: Obtaining the most consumer satisfaction from available resources. In other words, resources are allocated in such a way that consumer satisfaction is at its highest possible level. This is also termed either efficiency or allocative efficiency. Economic efficiency means the economy is doing the best job possible of satisfying unlimited wants and needs with limited resources--that is, of addressing the problem of scarcity. To achieve economic efficiency, however, the economy must first achieve technical efficiency. Technical efficiency means that society is getting the most production from available resources. There is no waste in the production process.Economic efficiency, however, means that this technically efficient production is also useful to or valued by people. While technical efficiency might be achieved in the production of purple spotted stuffed animals, economic efficiency is not achieved if no one actually wants purple spotted stuffed animals and they remain stored in a big purple warehouse.
Recommended Citation:ECONOMIC EFFICIENCY, AmosWEB Encyclonomic WEB*pedia, http://www.AmosWEB.com, AmosWEB LLC, 2000-2022. [Accessed: June 25, 2022].
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ORANGE REBELOON
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Today, you are likely to spend a great deal of time driving to a factory outlet seeking to buy either decorative picture frames or storage boxes for your income tax returns. Be on the lookout for telephone calls from long-lost relatives.
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The penny is the only coin minted by the U.S. government in which the "face" on the head looks to the right. All others face left.
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"It is not fair to ask of others what you are unwilling to do yourself. " -- Eleanor Roosevelt, diplomat, activist
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