performing or functioning in the best possible manner with the least waste of time and effort; having and using requisite knowledge, skill, and industry; competent; capable: a reliable, efficient assistant.
satisfactory and economical to use: Our new air conditioner is more efficient than our old one.
producing an effect, as a cause; causative.
utilizing a particular commodity or product with the least waste of resources or effort (usually used in combination): a fuel-efficient engine.

1350–1400; Middle English (< Middle French) < Latin efficient- (stem of efficiēns), equivalent to ef- ef- + fic-, combining form of facere to make, do1 + -ent- -ent

efficiently, adverb
nonefficient, adjective
nonefficiently, adverb
quasi-efficient, adjective
quasi-efficiently, adverb
superefficient, adjective
unefficient, adjective

1. effectual. See effective.
Dictionary.com Unabridged
Based on the Random House Dictionary, © Random House, Inc. 2014.
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World English Dictionary
efficient (ɪˈfɪʃənt)
1.  functioning or producing effectively and with the least waste of effort; competent
2.  philosophy producing a direct effect; causative
[C14: from Latin efficiēns effecting]

Collins English Dictionary - Complete & Unabridged 10th Edition
2009 © William Collins Sons & Co. Ltd. 1979, 1986 © HarperCollins
Publishers 1998, 2000, 2003, 2005, 2006, 2007, 2009
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Word Origin & History

late 14c., "making," from L. efficientem (nom. efficiens), prp. of efficere "work out, accomplish" (see effect). Meaning "productive, skilled" is from 1787. Related: Efficiently
Online Etymology Dictionary, © 2010 Douglas Harper
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Example sentences
Durable furnishings and well-organized tools and materials are key to a small
  but efficient workspace.
The learning-sciences literature has demonstrated that learning is more
  efficient and effective in such groups.
The results revealed that human skulls, far from being weak, are quite tough
  and unusually efficient for their size.
It remains to be seen how weather conditions affect the air flows that make
  formation flight more efficient.
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