2011•International Journal of Business Economics and Management ResearchRequires access

Efficiency estimation for Indian plastic industry

Hemal Pandya

Abstract

Productivity of an industry largely depends on the technical and allocative efficiency of its inputs. Technical Efficiency includes an optimum use of available resources and technology, whereas, Allocative Efficiency deals with how efficiently the available resources are allocated to various alternative uses. Estimation of Technical Efficiency is the main motivation behind the estimation of a Production Frontier. The points below the estimated production frontier are the indicators of Technical Inefficiency.

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Key concepts: Allocative efficiency, Inefficiency, Estimation, Productivity, Production–possibility frontier, Production (economics), Frontier, Economics