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