1. 2008503020 ŞEYMA DURGUT

2. Efficiency of production systems is a measure commonly used in the evaluation of performance. How much resources we put into production we are providing the product in other words. I obtained sufficient for our products, with lower costs more than we can produce. Here is all that an efficiency criterion. Other than a recognition of the contemporary world economic efficiency will resolve the problem as one of the key concepts that can be specified. Indeed, productivity, development of today, the most developed country or society to be one of the criteria is considered.

3. Productive Efficiency Financial Market Efficiency Dynamic Efficiency

4. Productive efficiency (also known as "technical efficiency") occurs when the economy is utilizing all of its resources, and operating at its production possibility frontier.

5. This takes place when production of one good is achieved at the lowest cost possible, given the production of the other good.It is when the highest possible output of one good is produced, given the production level of the other good. In long-run equilibrium for perfectly competitive markets, this is where average cost is at the base on the Average Cost curve. Productive efficiency requires that all firms operate using best-practice technological and managerial processes. By improving these processes, an economy or business can extend its production possibility frontier outward and increase efficiency further.

7. Eugene Fama defined an efficient financial market as "one in which prices always fully reflect available information”. The most common type of efficiency referred to in financial markets is the allocative efficiency, or the efficiency of allocating resources.

8. This includes producing the right goods for the right people at the right price. A trait of allocatively efficient financial market is that it channels funds from the ultimate lenders to the ultimate borrowers in a way that the funds are used in the most socially useful manner.

9. Dynamic efficiency is a term in economics, which refers to an economy that appropriately balances short run concerns (static efficiency) with concerns in the long run (focusing on encouraging research and development)

10. Through dynamic efficiency, such an economy is able to further improve efficiency over time. Investments in education, research and innovation are important in this process.

11. Dynamic efficiency also refers to the ability to adapt quickly and at low cost to changed economic conditions and there by maintain output and productivity performance despite economic 'shocks'. Dynamic efficiency is pursued through microeconomic reform and increased competition, which provide incentives for businesses to innovate and adapt.

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