Examlex
Which ribs are attached to the vertebrae only?
Fully Employed
A situation in which all available labor resources are being used in the most economically efficient way.
Production Possibilities Frontier
Represents the maximum potential output of two goods or services an economy can produce when all resources are used efficiently, graphically illustrating opportunity costs and economic efficiency.
Outputs
The goods or services produced by a company or an economy over a certain period of time.
Increasing Opportunity Costs
A principle stating that as the production of a good increases, the opportunity cost of producing an additional unit of this good also increases.
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