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Definition of economic efficiency: the situation in which it is impossible to generate a larger welfare total from the available resources in other words, . Increasing workplace efficiency is not merely a question of doing more work in less time, it is also a question of focusing, so that you produce quality work with less effort. An efficient life is one lived without wasted time, money, or resources dealing with 9 areas in our lives where inefficiency tends to creep in over time.
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