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Marginal Rate Of Transformation
The rate at which one good must be sacrificed in order to produce an additional unit of another good, assuming efficient use of resources.
World Price Ratio
The rate at which quantities of goods from two countries are traded for each other.
Production Possibilities Frontier
A graph that represents all the highest production potentials for two products, based on a group of inputs that include resources and various factors.
Marginal Rate Of Transformation
The rate at which one good must be sacrificed to produce an additional unit of another good, based on the given technology and resource constraints.
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