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What is Dynamic Efficiency? I A-Level and IB Economics

Level:
A-Level, IB Diploma
Board:
AQA, Edexcel, Eduqas, IB, OCR, WJEC

Last updated 10 Jan 2024

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Dynamic efficiency is a concept in economics that refers to an economy or firm's ability to adapt and improve its productivity over time in response to changing markets, technologies, and customer preferences. It's closely related to the idea of innovation, as it involves continuous improvement, investment in new technologies, and a focus on long-term growth.

What is Dynamic Efficiency? I A-Level and IB Economics
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