Examlex
Which of the following is a reason for decentralization?
Comparative Advantage
The ability of an individual or group to carry out a particular economic activity more efficiently than another activity.
Production Relationships
Production relationships refer to the connections and interactions between inputs used in the production process and the resulting outputs.
Production Possibilities Frontier
A curve depicting all maximum output possibilities for two or more goods, given a set of inputs.
Unattainable
Describes a goal, level, or condition that cannot be achieved or reached, often used in the context of economic production and efficiency.
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