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Factor.
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Economic System
The organized way in which a country allocates resources and distributes goods and services in its society.
Criterion
A principle or standard by which something can be judged or decided.
Efficiency
The optimal allocation of resources to produce goods and services in a way that maximizes output with the least waste or cost.
ATC Curve
A graph showing the average total cost of producing different quantities of a good, illustrating how costs change with output levels.
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