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There are several measures of economic efficiency,

including:

Pareto Efficiency

Kaldor-Hicks Efficiency

X-efficiency

Allocative Efficiency

Distributive Efficiency

Productive Efficiency

Optimisation of a Social Welfare Function

For applications of these principles see:

Efficient Market Hypothesis

Welfare Economics

Production Theory Basics

Documentary Film s

OPTIMUM – The Crusade For Efficiency, A Film by Henry Colomer, 2000, 55 minutes, This documentary focuses on three crusaders for efficiency, namely Jeremy Bentham , Charles Babbage and Francis Galton .

See also

Business Efficiency

Inefficiency