Can some one elaborate that what is Market Efficiency?

Help!!!! I cant find the answer to this question. Can any one please provide the answer....
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"Efficient Market: The market in which the price for any security effectively represents the expected net present value of all future profits.Buying or selling the stock should, on average, return you only a fair measure of return for the associated risk. Issues in Efficient Market - Markets respond to new information - Possible to distinction for a decision between a profitable and unprofitable investment given current information - Types of Efficiency: Operational efficiency, Informational efficiency (efficient market hypothesis). Source:"
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Is the rule make fish an useful grocery store demonstrates most probable selective information speedily as well as accuracy.
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