Your browser does not seem to support JavaScript. As a result, your viewing experience will be diminished, and you have been placed in read-only mode.
Please download a browser that supports JavaScript, or enable it if it's disabled (i.e. NoScript).
The efficiency principle states that an action achieves most benefit when marginal benefits from its allocation of resources equal marginal social costs.
Share your knowledge with the community
Browse our collection of 300,000+ community-written definitions
