Economic Glossary | X-efficiency | Bankers Algo
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Yesterday is history, tomorrow is a mystery, today is a gift of God, which is why we call it the present.

-by Bil Keane

Series Funda

In the following question, one term in the number series is wrong. Find the wrong term.

56, 72, 90, 110, 132, 150

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Economic Glossary

    Economic Terms starting with X


    X-efficiency

Producing OUTPUT at the minimum possible cost. This is not enough to ensure the best sort of economic EFFICIENCY, which maximises society's total CONSUMER plus PRODUCER SURPLUS, because the quantity of output produced may not be ideal. For instance, a MONOPOLY can be an X-efficient producer, but in order to maximise its PROFIT it may produce a different quantity of output than there would be in a surplus-maximising market with PERFECT COMPETITION.


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Banker's Algo Daily Dose

Word of the day

Brook(n)

Meaning:

Stream of water

Synonyms: beck, branch, burn, creek, rill, rindle, river

Antonyms: break, break down, despair, droop, fail, faint, fall, falter, give out, give up, sink, succumb, surrender, yield

Apti Question of The day

Question

A train running at 54kmph takes 20 seconds to pass a platform. Next it takes 12 second to pass a man walking at 6kmph in the same direction in which the train is going. Find the length of the train and the length of the platform.

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