Examlex
A change in the expected rate of inflation from 3 percent to 5 percent will
Capital
Assets or resources that are available for use in the production of further assets or goods.
Entrepreneurial Ability
The skill or capacity to identify opportunities, create new businesses, and innovate new products or services in the marketplace.
Opportunity Cost
represents the value of the next best alternative forgone as a result of making a decision.
Scarcity
The fundamental economic problem of having seemingly unlimited human wants and needs in a world of limited resources.
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