Cambridge Cambridge International AS & A Level Economics 9708 · 7.3.1
definitions of productive efficiency and allocative efficiency
- Code
- 7.3.1
- In
- 7.3 Efficiency and market failure
- Topic
- 7 The price system and the microeconomy (A Level)
- Course
- Cambridge International AS & A Level Economics 9708
- Board
- Cambridge
Grade boundaries·Cambridge command words
Codes and titles are read by a script from Cambridge's published specification and have not been checked by a person. What each point covers is in the specification itself: Cambridge’s specification.
Points in 7.3 Efficiency and market failure
- 7.3.1 definitions of productive efficiency and allocative efficiency
- 7.3.2 conditions for productive efficiency and allocative efficiency
- 7.3.3 Pareto optimality
- 7.3.4 definition of dynamic efficiency
- 7.3.5 definition of market failure
- 7.3.6 reasons for market failure