"There can be economy only where there is efficiency"

This quote by Benjamin Disraeli suggests that in order to have a successful economy, effectiveness is vital. Efficiency is the ability to do something with the least quantity of effort, time, and expense. To put it simply, it is the ability to get the most out of the resources available. In the context of an economy, efficiency is essential because it allows companies to maximize their earnings and lessen their expenses. This, in turn, permits them to reinvest their revenues into their businesses, developing more jobs and promoting financial growth. In addition, efficient economies are much better able to manage their resources, suggesting that they can better allocate resources to areas of need. In short, Disraeli's quote suggests that efficiency is the key to a successful economy.