hagkvæmur

Hagkvæmur is an Icelandic adjective meaning economical, cost-effective, or efficient. It describes things, decisions, or methods that achieve their aim with minimal use of resources or money. In consumer contexts it is used for products or services that offer good value for money, and in business or public policy to indicate strategies that maximize efficiency. The word belongs to a family including hagkvæmni (economy, efficiency) and the negation óhagkvæmur (ineconomical, inefficient). In English, hagkvæmur is commonly translated as economical, cost-effective, or efficient.