economic inefficiency
[ɪˌkɒnɒmɪk ɪnɪˈfɪʃənsi]
nounfemininepl: economic inefficiencies / ineficiências econômicas
ineficiência econômica
1. The failure of an economic system, market, or organization to allocate resources optimally, resulting in wasted resources, reduced productivity, or suboptimal output relative to input
The government's bureaucratic processes created economic inefficiency that hindered business growth.
Os processos burocráticos do governo criaram ineficiência econômica que prejudicou o crescimento dos negócios.
2. A situation where an economy does not produce the maximum possible output given available resources and technology
Economic inefficiency in the manufacturing sector led to higher production costs.
A ineficiência econômica no setor de manufatura levou a custos de produção mais elevados.
3. The state of markets or economic agents failing to achieve Pareto efficiency, where resources cannot be reallocated to make someone better off without making someone else worse off
Market monopolies can contribute to economic inefficiency by limiting competition.
Monopólios de mercado podem contribuir para a ineficiência econômica ao limitar a competição.
In Brazil, discussions of economic inefficiency are particularly relevant in contexts of government administration and bureaucratic reform. The term is widely used in business schools, economic policy debates, and news media when discussing structural economic problems. In the US, it's commonly invoked in discussions about market competition, regulation, and corporate performance.
NYC Slang
waste / economic drag
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