Minimum alveolar concentration (MAC) is a measure of-
(Refer: Morgan and Mikhail’s Clinical Anaesthesiology, 5th edition, pg no. 160, 268, 510)

Minimum alveolar concentration (MAC) → Measure of potency
Blood: Gas partition coefficient →Blood solubility of anaesthetic agent and determines the speed of induction & recovery
Oil: Gas partition coefficient → Lipid solubility of anaesthetic agent and is related to potency of anaesthetic agent.
Potency of anaesthetic agent
Speed of induction and recovery
Lipid solubility of agent
toxicity of agent
Potency of anaesthetic agent