the ratio of one or more inputs (i.e. resources like labour, capital or management) divided by outputs (i.e. goods and services).

the optimum combination and maximum utilisation of all the production powers (factors) at the organisation’s disposal.

the creation of goods and services.

an efficiency criterion used to compare the output–input of an establishment, economy, organisation, industry or part of an industry to the same entity’s output–input during a previous period, to the output–input of other organisations/industries, or to set standards.