Economic Efficiency
/ˌɛkəˈnɒmɪk ɪˈfɪʃənsi/
Definitions
- (n.) A measure of the optimal allocation and use of resources to maximize value and minimize waste within legal frameworks.
The court considered economic efficiency when evaluating the impact of the regulation on market competition.
See also
Commentary
In legal contexts, economic efficiency often guides policy assessment and judicial review, balancing social welfare and individual rights.
This glossary is for general informational and educational purposes only. Definitions are jurisdiction-agnostic but reflect terminology and concepts primarily drawn from English and American legal traditions. Nothing herein constitutes legal advice or creates a lawyer-client relationship. Users should consult qualified counsel for advice on specific matters or jurisdictions.