What Is an Efficiency Ratio?

Efficiency (efficiency) refers to the ratio of useful power to driving power, and it also has multiple meanings. Efficiency is also divided into many types, such as mechanical efficiency, thermal efficiency, and so on. Efficiency is not directly related to the speed of work.

Efficiency concept

1. It refers to the most effective use of social resources to meet human aspirations and needs.

2. Given the input and technology, there is no waste of economic resources, or the use of economic resources to the greatest degree of satisfaction is a simplified expression of allocative efficiency. ^[1]

Connotation of efficiency

Given the limitless nature of human desire, the most important thing for an economic activity is, of course, the best use of its limited resources. this makes

effectiveness

We have to face the key concept of efficiency. In economics, we put it this way: Without prejudice the condition of others, if an economic activity is no longer possible to enhance the economic welfare of anyone, then that economic activity is considered efficient. The opposite situation includes: "irrepressible monopoly", "malignant pollution", or "intervention without checks and balances", etc. Of course, such an economy can only produce less than the goods that the economy could have produced without "the above-mentioned problems", or it can also produce a lot of wrong articles. All of this can make consumers worse off than they should have been. These problems are the consequence of the inefficient allocation of resources.

1. It refers to the amount of work actually completed in a unit of time. Therefore, the so-called high efficiency means that there is a large amount of work that is actually completed in a unit time, and for individuals, it means saving time.

2. It is the ratio of the output wattage to the input wattage. If the number is closer to 1, it shows that the efficiency is better. For online UPS, the general efficiency is between 70% ~ 80%, that is, 1000W, output is about 700W ~ 800W, UPS itself consumes 200W ~ 300W power; offline and online interactive UPS, its efficiency is between 80% ~ 95%, its efficiency is higher than online.

3. Efficiency refers to the optimal allocation of limited resources (such as raw materials, human cash, etc.). When certain specific standards are reached, it is said to have reached efficiency.

4. The relationship between achieving results and the resources used.

5. From a management perspective, efficiency refers to the ratio of the various inputs and outputs of an organization in a given time. effect

Efficiency

The rate is inversely proportional to input and proportional to output. Public sector efficiency includes two aspects: first, production efficiency, which refers to the average cost of producing or providing services; and second, allocation efficiency, which refers to whether the products or services provided by an organization can meet the different preferences of stakeholders. ^[1]