economize

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economize

vb. to produce:
  1. a given OUTPUT of a product using fewer FACTOR INPUTS than previously;
  2. more output than before from the same amount of factor inputs;
  3. a given output of a product at lower cost than before by substituting cheaper factor inputs for more expensive ones in the production process (the ‘ideal’ or optimum position is attained when the largest possible output is produced from a given volume of factor inputs using available technology);
  4. a given output at the least possible factor cost. See PRODUCTIVITY, EFFICIENCY, ECONOMICS, PRODUCTION POSSIBILITY BOUNDARY.
References in periodicals archive ?
Iranian and German officials negotiated economizing on water and energy consumption, improving efficiency in the existing power plants, building new power plants, constructing recyclable energy power plants and the issue of new energies.
Thus the concept of economizing at the center of Robbins's analysis is, according to Kirzner (1979, p.
We then synthesize these arguments with ideas from resource-based theory to provide a theoretical foundation for a subsequent empirical analysis that explores economizing in the U.
Taxing the public and assuming the public can maintain ``its existing level of living'' shifts the economizing burden onto the taxpayer.
That said, the price mechanism (as distinct from the competitive theory of it) DOES manage rationing of scarce means by: allocating resources, economizing scarce means in production, distributing claims on the output and economizing (rationing) in consumption.
When gourmet retailers who are guerrilla marketers think of economizing, they don't necessarily think of trying to save money.
In his foreword, Peter Hall points to the message that, 'We've got our economics upside down, and need to turn it the right way up: instead of economizing on people and putting them on the unemployment scrapheap, we need to economize on resources'.
A fourth chapter interprets the circulation and then publication of the poems preserved in the Egerton manuscript as an instance of Erasmian "parsimony": "He was distinctively skilled at mining the available supply of patronage and maintenance for returns from the authorial and scholarly work he did, while conserving and economizing his expenditure of effort" (83).
Other factors are specific cost-containment measures undertaken by the industry, including payroll reductions, negotiation of lower management fees, reduced taxes resulting from property tax appeals, and other economizing changes.
Such strategies also have included greater economizing on lower-yielding financial assets, such as transaction deposits, and on lower-yielding real assets in the form of business inventories.
Unlike systems that use airside economizing (ASE) solutions which use more energy, require additional consumable expenditures for filters, and do not provide consistent temperatures and humidity levels, Core4 systems deploy refrigerant side economizing (RSE) that can reduce refrigeration compressor energy by up to 100 percent.
Riyadh: June 11 -- (BNA)-- The Electricity and Water Authority (EWA)"s CEO, Shaikh Nawaf bin Ibrahim Al Khalifa, chaired the 33rd meeting of the GCC Committee on Economizing on Water and Electricity Consumption here in Riyadh today (Tuesday: 11 June 2013) which is the second meeting since he has assumed chairmanship of the said committee in the GCC countries.