Financial Glossary – X

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X-efficiency – describes a company’s, management’s and workers’ inability to get the maximum output for inputs. Harvey Leibenstein, a Harvard professor, first used the term, and explained the x-efficiency notion, in 1966. His theory was that when firms are not very competitive, their workers will not behave as efficiently.

Xerox as a Verb – means to photocopy. The term ‘Xerox’ as a verb is more common in North America and India than in the British Isles, where people tend to use ‘to photocopy’ more often. The verb came from the brand name of Xerox Corporation, an American multinational company. Many brand names end up being used as verbs, such as Google, Skype, Uber, FedEx, and Super Glue.