hagkvæm

Hagkvæm is an Icelandic adjective meaning economical or efficient, with a focus on achieving a desired outcome while using relatively few resources or incurring low cost. It is used to describe actions, plans, devices, or policies that maximize benefit and minimize inputs, waste, or risk. The term is common in discussions of business strategy, engineering, public policy, and everyday decision making.

A hagkvæm approach emphasizes value and effectiveness over time, rather than merely spending less in the short term. It can apply to energy use, production processes, transportation, and public programs when the goal is to optimize performance and cost-efficiency. The related noun hagkvæmni denotes efficiency or cost-effectiveness as a quality or measurable attribute.

In Icelandic, hagkvæmur is the corresponding adjective form for masculine subjects, and hagkvæmni is used to refer to efficiency as a concept. The opposite is typically expressed with óhagkvæmur or óhagkvæmni, indicating inefficiency or lack of cost-effectiveness. The term is frequently employed in budgeting, policy analysis, and evaluations of technology and infrastructure projects to argue for solutions that offer the best value relative to cost and resource use.

See also: hagkvæmni, hagkvæmur, óhagkvæmur.