Examlex
While his approach was drawn from previous research, is credited with the application of the critical perspective to studying the city.
Opportunity Cost
Forgoing possible gains from various alternatives by picking a specific one.
Personal Savings
The portion of an individual's income that is not spent on consumption and is saved for future expenses, investments, or emergencies.
Explicit Cost
Direct, out-of-pocket payments for the purchase of inputs or resources for business operations.
Marginal Product
The additional output resulting from using one more unit of a given input, holding all other inputs constant.
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