Allocative efficiency
1.Allocational efficiency, also known as allocative efficiency, is a characteristic of an efficient market where the optimal distribution of goods in an economy meets the needs and wants of society. The goal of allocative efficiency is to ensure that resources are used so that their marginal benefit to society is equal to their marginal cost.
2.Allocative efficiency is a state of the economy in which production is aligned with the preferences of consumers and producers; in particular, the set of outputs is chosen so as to maximize the social welfare of society. This is achieved if every produced good or service has a marginal benefit equal to the marginal cost of production.
Kenton, W. (2006, 15 грудня). Understanding Allocational Efficiency and Its Requirements. Investopedia. Retrieved from: https://www.investopedia.com/terms/a/allocationalefficiency.asp
Anderson, D. (2019). Environmental Economics and Natural Resource Management, Routledge, New York.