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Unformatted text preview: your time you make the best use of it by doing the most things you have to do it in the least amount of time. To be efficient with your money you and get the most product you can for the least amount of your money. Efficiency is based on a basic principle of economics. That basic principle of economics being the principle of opportunity costs. This principle allows one to be able to get the most possible benefits for the least possible costs. If one can utilize the principal of opportunity costs one can become efficient in all aspects of life. Once one becomes efficient life becomes easier for two reasons. Efficiency leads to reduction in problems, and an increase in benefits....
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This note was uploaded on 01/17/2012 for the course ECON 101 taught by Professor Turnbull during the Spring '07 term at University of California, Santa Cruz.
- Spring '07