Utilizing statistical and mathematical models, econometrics helps economists create new theories, test old ones, and predict future trends based on historical data.
The definition of economic efficiency is the distribution or allocation of all goods and factors of production in an economy to their most valuable uses while minimizing or eliminating waste.
EdTech, which stands for "education and technology," is the name given to hardware and software that are intended to enhance teacher-led learning in classrooms and raise student achievement levels.