1. What do you mean by the term Efficiency in your language?

Efficiency refers to a peak level of performance in which the smallest amount of inputs are used to produce the greatest quantity of output. Efficiency entails lowering the quantity of unneeded resources, such as personal time and energy, utilized to generate a particular product. It's a quantifiable concept that may be calculated by dividing usable output by total input. While achieving the required outcome, it reduces the waste of resources such as physical materials, energy, and time.

2. Define Equity in your own Language.

In finance and accounting, equity refers to the worth of a company that can be attributed to its shareholders. The gap between assets and liabilities on a company's balance sheet is the book value of equity, whereas the market value of equity is based on the current share price (if public) or a value estimated by investors or valuation professionals. The account is also known as net worth or shareholders/owners/stockholders equity.