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Substitutes In Production
Products that can be produced using the same resources or processes as another product, allowing producers to switch between them based on market demand or cost considerations.
Fixed Resources
Assets and inputs in the production process that cannot be easily increased or decreased in the short term, such as land and machinery.
Producer
An individual, company, or entity that creates goods or provides services to satisfy consumer demand.
Genetically Modified Seeds
Seeds that have been modified in the laboratory using genetic engineering techniques to possess certain desired traits, such as increased resistance to pests or herbicides.
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