Examlex
Carol remembers her computer password by connecting it with the name of her first pet and the year she got married.This is an example of the third memory step, Association.
Production Possibilities Frontier
A curve depicting all maximum output possibilities for two goods, given a set of inputs and production technology.
Economic Growth
An increase in the production of goods and services in an economy over a period of time, often measured by GDP.
Simon Kuznets
Simon Kuznets was a Nobel Prize-winning economist known for his work on economic growth and for developing the concept of Gross National Product (GNP).
Quality of Inputs
The standard or grade of raw materials and labor used in the production process, influencing the efficiency and outputs.
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