Revision: Types of Economic Efficiency

What are the main types of efficiency and when should I use them in the exams?

If you are stretching for a high grade at AS and/or A2 you will need to use efficiency concepts in your exam answers – so these notes should be useful! Economic efficiency is about making the best or optimum use of our scarce resources among competing ends so that economic and social welfare is maximised over time. Download this two page revision note - covering some of the issues for AS and A2 exams.

Revision note:
Revision_Efficiency_Types_Exam_Uses.pdf

Unit 2 Macro: Cyclical and Structural Economic Issues Facing the UK [23 May 2012]
Unit 2 Macro: Evaluation on Supply-Side Policies [21 May 2012]
Unit 2 Macro: Migration and the UK Economy [20 May 2012]
Unit 2 Macro: The Importance of Productivity [20 May 2012]
Revision notes on unemployment [20 May 2012]
Unit 1 Micro: Revision Presentation on Government Intervention [16 May 2012]
Unit 1 Micro: Revision Presentation on Externalities [16 May 2012]
Unit 1 Micro: Revision Presentation on Elasticity of Supply [16 May 2012]
Unit 1 Micro: Revision Presentation on Elasticity of Demand [16 May 2012]
Unit 1 Micro: Price Volatility in Markets [12 May 2012]
Unit 2 Macro: Revision Notes on Supply-side Policies [10 May 2012]
Unit 1 Micro: Revision Blogs on Markets and Intervention [10 May 2012]
Unit 1 Micro: True and False Revision Questions on Elasticity [10 May 2012]
Command Words in Questions [9 May 2012]
Unit 2 Macro: 10 Key Revision Topics for EdExcel [7 May 2012]
Exam Technique for Economics - Weesteps to Evaluation [5 May 2012]
Unit 1 Micro: Using the Cost-Benefit Principle [30 Apr 2012]
Macro Revision: Putting Things in Context [29 Apr 2012]
Unit 4 Macro: The Euro Zone Crisis (Revision) [22 Apr 2012]
Unit 3 Micro: Key Diagrams for Business Economics [17 Apr 2012]
Unit 4 Macro: Globalisation Revision Quiz [14 Apr 2012]
Unit 3 Micro: Revision on Nationalisation [13 Apr 2012]
Unit 3 Micro: Revision on Entry Barriers [10 Apr 2012]
Unit 3 Micro: Revision on Price Discrimination [9 Apr 2012]
2012 Economics Revision: Ways to Improve your Paper [9 Apr 2012]
Twitter - Help with Economics Revision [8 Apr 2012]
Unit 3 Micro: Revision on Business Objectives and Pricing [8 Apr 2012]
Unit 3 Micro: Revision on Contestable Markets [8 Apr 2012]
Unit 3 Micro: Monopoly and Economic Welfare [6 Apr 2012]
Unit 2 Macro: Inflation and the Business Environment [6 Apr 2012]
Unit 2 Macro: How the Economic Cycle affects Businesses [6 Apr 2012]
Unit 3 Micro: Revision on Scale Economies and MES [5 Apr 2012]
Unit 3 Micro: Revision on Scale Economies, Technology and Prices [1 Apr 2012]
Unit 4 Macro: Evaluating 3 Years of Quantitative Easing [27 Mar 2012]
Unit 2 Macro: Videos on Productivity [17 Jan 2012]
Revision Presentation: Economics Evaluation Skills [10 Jan 2012]
Unit 1 Micro: Revision MC Questions on Public and Private Goods [9 Jan 2012]
Unit 2 Macro: Revision Quiz on Economics of Unemployment [5 Jan 2012]
AS and A2 Economics - 10 Ways to Improve Evaluation [4 Jan 2012]
Unit 1 Micro: Prezi on the Economics of Negative Externalities [2 Jan 2012]
Unit 1 Micro: Empty Housing and Economic Efficiency [15 Dec 2011]
AS Macro: The State of British Business [13 Nov 2011]
Economics at the Movies: Contagion [24 Oct 2011]
Unit 3 Micro: Amazon launches the Kindle Fire [1 Oct 2011]
Unit 1 Micro: Sleep, Money, Happiness and Choices! [25 Sep 2011]
An activity for the first Economics lesson of the year! [31 Aug 2011]
Where there’s muck there’s brass [6 Jul 2011]
Not so much food inflation, but food hyperinflation! [30 May 2011]
AS Macro: Preparing for Unit 2 (May 2011) [25 May 2011]
AS Macro Key Term: Supply-Side Policies [25 May 2011]
AQA Macro: Remember to revise inflation [25 May 2011]
AQA A2 Economics - European Context [23 May 2011]
A2 Micro: The Importance of Profit [19 May 2011]
A2 Micro: Market Structure, Conduct & Performance [19 May 2011]
Unit 3 Micro: Perfect Competition [19 May 2011]
A2 Micro: Competition and Efficiency [19 May 2011]
A2 Micro: Innovation Efficiency and Welfare [18 May 2011]
UK Economy Update: What Mervyn Said [11 May 2011]
A2 Micro: Innovation in Markets [4 May 2011]
AS Macro: Updated presentation on monetary policy [4 May 2011]
UK Economy Revision Briefing May 2011 [1 May 2011]
AS Micro: Revision on Government Failure [1 May 2011]
Video Clips on the Chinese Economy [1 May 2011]
A2 Micro: EU Aviation - State Aid and State Ownership [28 Apr 2011]
AS Micro: Mock Exam Question on Sugar Prices [28 Apr 2011]
AS and A2 Macro Revision: The China Effect [26 Apr 2011]
AS Micro: Importance of Elasticity of Supply [23 Apr 2011]
A2 Micro: Changes in Costs and Profits [23 Apr 2011]
AS Macro: Conflicts between Objectives [23 Apr 2011]
A2 Macro: Twin Deficits [22 Apr 2011]
AS Micro Revision: Public and Private Goods [21 Apr 2011]
UK Economy at a Glance April 2011 [17 Apr 2011]
Key AS Micro Terms: Economic Efficiency [16 Apr 2011]
Unit 1 Micro: Information Failure [15 Apr 2011]
Online Economics Revision Help [13 Apr 2011]
AS Macro Revision - Key Term Revision Bank [1 Apr 2011]
AS Micro Revision - Key Term Revision Bank [1 Apr 2011]
Exam Advice: Putting Things in Context [1 Apr 2011]
AS Macro Revision: Investment Spending [12 Mar 2011]
Google Docs - Macroeconomic Performance [1 Mar 2011]
World’s Most Innovative Companies [17 Feb 2011]
Dynamic efficiency in the condom market [15 Feb 2011]
Revision Economics Q&As for the June 2011 exams [6 Jan 2011]
Revision: Consequences of Unemployment [1 Jan 2011]
EU Economics: European 2011 Revision Guide Launched [31 Dec 2010]
UK Economy in Focus [22 Dec 2010]
Movie Rental on a USB Stick! [11 Dec 2010]
AS Micro Revision - Market Forces and Resource Allocation [2 Dec 2010]
A selection of economics revision presentations [1 Dec 2010]
The 25 Mark Questions in AQA AS Macro [30 Nov 2010]
The Rise and Rise of Internet Monopolists [14 Nov 2010]
Revision Presentation on Causes and Effects of Inflation [4 Nov 2010]
Just Giving - An Abuse of Monopoly Power? [30 Oct 2010]
What is fairness - a range of perspectives [14 Oct 2010]
Tea with the Economist - Stephen King [13 Oct 2010]
Twitter and Dynamic Efficiency [7 Oct 2010]
Using Wordle in AS Macro Teaching [3 Oct 2010]
Google Instant and Dynamic Efficiency [12 Sep 2010]
The Happy Planet Index [30 Aug 2010]
Economics Matrix Unloaded! [24 Aug 2010]

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