The concept of economic efficiency refers to the size of the "economic pie" whereas the concept of equality refers to how the "pie" is distributed.

Name: The concept of economic efficiency refers to the size of the "economic pie" whereas the concept of equality refers to how the "pie" is distributed.
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Economic efficiency is about maximizing the overall size of the economic pie, whereas equality is about ensuring equitable distribution of the pie.

The Concept of Economic Efficiency Refers to the Size of the "Economic