Examlex
In the context of technology, which of the following was invented in the 1950s and contributed to changing human life permanently?
Present Benefits
The advantages or positive outcomes that are received or enjoyed at the current time, as opposed to benefits that may accrue in the future.
Future Benefits
Expected advantages or gains that will be received in the future as a result of current investments or actions.
Production Possibility Frontier
A curve depicting all maximum output possibilities for two goods, given a set of inputs resources and technology, illustrating trade-offs and opportunity costs.
Output Efficiency
The state of producing the maximum output with the minimum wasted effort or expense.
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