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The sequence is defined recursively. Write the first four terms.
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Opportunity Costs
The cost of forgoing the next best alternative when making a decision or choice.
Specialization
Focus on a particular area of study or work, leading to increased efficiency and expertise in that domain.
Higher Total Output
Indicates an increased overall level of production or sum of goods and services produced within an economy.
Resource Endowments
The natural, human, and capital resources that a country or region possesses, determining its economic potential and development opportunities.
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