Dynamic efficiency is not a type of economic efficiency. It refers to the ability of an economy to adapt to changing circumstances and technological progress.

Allocative efficiency occurs when resources are allocated to their most productive uses, used in the most efficient way possible, and the economy is producing the optimal combination of goods and services.

Productive efficiency occurs when resources are used in the most efficient way possible, the economy is producing the maximum output with the given resources, and there is no waste or inefficiency in the production process.

Technological progress is not a factor that can lead to economic inefficiency. It can actually lead to increased efficiency by allowing for more efficient production methods and new products and services.

Monopoly power, externalities, and public goods are all examples of market failures that can lead to economic inefficiency.

Price controls, subsidies, and taxes can all be examples of government interventions that can lead to economic inefficiency.

Pollution, traffic congestion, and noise pollution are all examples of externalities that can lead to economic inefficiency.

Government regulation, taxes and subsidies, and property rights can all be used to address economic inefficiency caused by market failures.

Deregulation, tax reform, and privatization can all be used to address economic inefficiency caused by government intervention.

Pigouvian taxes, Coase theorem, and government regulation can all be used to address economic inefficiency caused by externalities.

Increased economic growth, higher living standards, and reduced poverty and inequality are all benefits of economic efficiency.

Market failures, government intervention, and externalities are all challenges to achieving economic efficiency.

Promoting economic efficiency, achieving full employment, and maintaining price stability are all goals of economic policy.

GDP per capita, productivity, and consumer surplus are all measures of economic efficiency.

Cost-benefit analysis, Pareto efficiency, and production possibility frontier are all tools that can be used to analyze economic efficiency.