Examlex
Hidden information refers to agents knowing things that principals do not.
Fully Utilizing
Making the most efficient use of resources, assets, or capacities to achieve their maximum potential output or productivity, often in the context of manufacturing processes or economic production.
Labor Force
The total number of people who are available to work, including both the employed and those seeking employment.
Production Possibility Frontier
A curve depicting all maximum output possibilities for two or more goods given a set of inputs (resources, labor, etc.), assuming all are efficiently used.
Efficiently
The manner in which resources are utilized in the most optimal way to produce goods or services without waste.
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