What time period distinguishes dynamic efficiency from static efficiency?
A
Dynamic efficiency concerns consumer choice at one point in time; static efficiency is judged by future productivity.
B
Dynamic efficiency concerns improvements over time; static efficiency is judged at one point in time.
C
Dynamic efficiency concerns efficiency at one point in time; static efficiency is judged over several years.
D
Dynamic efficiency concerns short-run cost minimisation; static efficiency is judged by long-run innovation.
7.3.4 definition of dynamic efficiency Flashcards
20 flashcards on CIE Intl A Level Economics 7.3.4 definition of dynamic efficiency: the key terms and definitions you need to recall.