Economicae^©

an illustrated encyclopedia of economics

Famous Economists

Mathematics of Economics

X-axis:	The X-axis is the horizontal line along which one variable is measured in a 2-dimensional system of Cartesian coordinates. See the Cartesian coordinate system figure for more discussion.
X-efficiency:	X-efficiency is a hypothetical measure of how closely the managers of a productive organization approximate maximizing output for a given cost, or equivalently, how closely the managers approximate minimizing the cost associated with producing a given level of output.
X-inefficiency:	X-inefficiency (managerial slack) is excessive cost as a percentage of total cost when lethargy or bureaucratic behavior causes an organization insulated from competition to operate inefficiently. See also managerial slack.