In a restricted sense, economic efficiency is often taken to mean that resources or inputs should be used so as to produce an output in the cheapest possible way. It is the cost of a combination of inputs which is of interest, not the use of a single...

The simultaneous achievement of both TECHNICAL and ALLOCATIVE EFFICIENCY. Farrell also described it as product or global efficiency. Farrell, M.J. (1957) ‘The measurement of productive efficiency’, Journal of the Royal Statistical Society....

Effectiveness and Efficiency Efficiency and effectiveness were originally industrial engineering concepts that came of age in the early twentieth century. Management theorists like Frederick Taylor and Frank and Lillian Gilbreth designed time and...

The hybrid-electric Toyota Prius leads the government's annual top-10 fuel economy list of vehicles that can make living with high gas prices a little more tolerable. The 2007 Prius, with 60 miles per gallon in the city and 51 mpg...

The energy efficiency of China's fuel-guzzling economy is improving but the country _ the world's No. 2 oil consumer _ is still struggling to meet self-imposed conservation targets, the government said Tuesday.China launched a five-year campaign in 2006 to cut energy use per unit of...

Honda and Toyota offered U.S. consumers the highest average fuel efficiency of 2007 model year vehicles, the government reported Wednesday.The average fuel economy for 2007 vehicles was 20.2 miles per gallon, the same as 2006 vehicles, the Environmental Protection Agency said in an annual report...

Car makers are embracing fuel-efficient vehicles and bringing a new perspective to energy challenges, the chairman of the firm that bought an 80 percent stake in Chrysler said Wednesday."We're not the old automobile industry," said former Treasury Secretary John Snow, chairman of Cerberus Capital Management,...