Define the Following Terms

question 44

Short Answer

Define the following terms
-coding system

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Definitions:

Opportunity Cost

The neglect of possible enhancements from other avenues when one direction is pursued.

Capacity Utilization Rate

The capacity utilization rate measures the proportion of potential economic output that is actually realized, often used in manufacturing to indicate the percentage of total productive capacity being utilized.

Unemployment Rate

The quota of workers currently out of work but looking for employment opportunities actively.

The Other America

A term often associated with discussions on economic and social inequality, highlighting the disparities in living conditions and opportunities between different segments of society.