Resource Efficiency

The focus of an economy is the allocation of scarce resources. When resources are allocated optimally, we have economic efficiency. The world’s young people – who make up the largest generation of youth in history – can lead national and global drives to break the current patterns that foster inequities, and set the world on course to a more sustainable future.

Young people are already at the forefront of driving the conditions necessary for economic efficiency – efficient production, efficient consumption, and efficient output. As they are leading technological innovations to foster a resource-efficient economy.

Economic efficiency is important because it allows businesses to reduce their costs and increase output. For consumers, economic efficiency leads to lower prices for goods and services. And for the government, a more efficient private sector and higher levels of productivity and economic activity increase economic growth.