Efficiency in production terms is the percent of a industry's capacity that is actually used. This value exists only in SR2010.
Increasing the production effiency of a commodity is beneficial in several ways. For one, decreases the cost per unit, making it much more compeditive on the global market and affordable for a populace to consume, increasing [[Demand]]. Additionally, it increases the volume of production, allowing a region to become more self-sufficient and able to produce significant exports.
The benefits of efficient production and market prowess comes at a price, however. The cost of efficiency increases as the total amount of production increases, which can eventually cause the expense to outweigh the benefits. On top of that it affected by [[inflation]], which can quickly eat the profits of resource-poor regions.
Note that investments in efficiency aren't included in the cost per unit, and are left to a player or minister to factor.