Examlex
Economic theory simplifies relationships to explain how the relationships interact.
Specialization
The process of concentrating on and becoming expert in a particular subject or skill.
Productivity
The measure of output per unit of input, indicating the efficiency with which goods and services are produced.
Economic Structure
The classification of an economy based on various sectors, such as agriculture, manufacturing, and services, indicating the allocation of resources among these sectors.
Ownership Of Resources
The legal right or control individuals or entities have over natural, physical, or intellectual properties and resources.
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