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Given the table shown, which country has a more equal income distribution? Explain your answer.
Opportunity Cost
The act of losing potential gains by not exploring other alternatives and choosing one.
Production Possibilities
This represents a diagram that outlines the peak production options for two different goods, taking into account a mixture of inputs such as resources and other variables.
Production Possibilities Frontier
A curve depicting all maximum output possibilities for two or more goods, given a set of inputs, representing the trade-offs in production choices.
Opportunity Cost
The consequence of dismissing the next most suitable option while deciding.
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