economics

Growth Economic growth is the increase in value of the goods and services produced by an economony. An increase in wealth. The rate of change in output from one year to the next , An increase in an economy's ability to produce goods and services which brings about a rise in standards of living.
Cost The cost of something in terms of an opportunity foregone (and the benefits that could be received from that opportunity), or the most valuable foregone alternative. For example, if a city decides to build a hospital on vacant land that it owns, the opportunity cost is some other thing that might have been done with the land and construction funds instead .
Efficiency the value assigned to a situation by some measure designed to reduce the amount of waste or "friction" or other undesirable economic features present. Economic efficiency is achieved when the cost of producing a given output is as low as possible

Growth

Economic growth is the increase in value of the goods and services produced by an economony. An increase in wealth. The rate of change in output from one year to the next , An increase in an economy's ability to produce goods and services which brings about a rise in standards of living.

Cost

The cost of something in terms of an opportunity foregone (and the benefits that could be received from that opportunity), or the most valuable foregone alternative. For example, if a city decides to build a hospital on vacant land that it owns, the opportunity cost is some other thing that might have been done with the land and construction funds instead .

Efficiency

the value assigned to a situation by some measure designed to reduce the amount of waste or "friction" or other undesirable economic features present. Economic efficiency is achieved when the cost of producing a given output is as low as possible