EconAndProdEfficiency

Production efficiency and economic efficiency are crucial concepts in agriculture/horticulture for sustainable and profitable practices. It helps to determine the optimal use of resources to maximize outputs and profitability. Production efficiency focuses on the optimal use of resources to produce goods, while economic efficiency ensures these goods are produced and allocated in a way that maximizes economic welfare. Production efficiency and economic efficiency are calculated with the help of the formula given by (Kumar et al., 2017) .

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