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efficiency (n.)

1590s, "power to accomplish something," from Latin efficientia "efficient power; efficiency; influence" (from efficientem; see efficient) + -cy. In mechanics, "ratio of useful work done to energy expended," from 1858. Attested by 1951 as short for efficiency apartment (itself from 1917).

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Definitions of efficiency from WordNet

efficiency (n.)
the ratio of the output to the input of any system;
efficiency (n.)
skillfulness in avoiding wasted time and effort;
she did the work with great efficiency
From wordnet.princeton.edu