Definition of «economic use»

The term "economic use" refers to using resources in a way that maximizes efficiency and minimizes waste. This can involve making choices about how to allocate scarce resources, such as time or money, to achieve the greatest possible benefit while avoiding unnecessary expenditures. In an economic sense, this means striving for optimal results with limited inputs, which is often achieved through careful planning, analysis of costs and benefits, and efficient management practices. The goal of economic use is to maximize value creation in order to improve overall well-being while minimizing negative externalities on the environment or society.

Sentences with «economic use»

  • The rooms make as much economic use of space as the entire hotel does with the environment. (vacationidea.com)
  • There are just under a billion of those, and they're being put to good and productive economic use for margin lending to bitcoin buyers. (coindesk.com)
  • A major focus of the forum was the sustainable economic use of country. (humanrights.gov.au)
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