Business, Legal & Accounting Glossary
Utilization of resources in a manner that reduces the costs associated with the use and results in some sort of benefit for the user. Increases in wealth, resource longevity, or effectiveness of time are all results that can be achieved by using resources in an economical fashion. Due to increased human consumption and price increases on certain resources, people have started using things such as hybrid vehicles, reusable bags, and energy efficient light bulbs in hopes of become more economical and less dependent on depleting resources.
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This glossary post was last updated: 20th November, 2021 | 0 Views.