Examlex
A research method that allows researchers to statistically combine the results of many similar studies on the same topic is
Opportunity Costs
The expense incurred from not selecting the next most favorable choice when a decision is taken or preferring one alternative over another.
Efficient
The characteristic of a resource allocation that maximizes the total surplus received by all members of society.
Production Possibilities Frontier
A curve depicting all maximum output possibilities for two or more goods given a set of inputs (resources, technology, etc.), assuming efficient use of resources.
Technological Advance
The introduction and application of new technologies and methods that improve productivity and efficiency.
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