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Action standards entail making important decisions before data collection,but also:
Production Possibilities Curve
A curve showing the different combinations of two goods or services that can be produced in a full-employment, full-production economy where the available supplies of resources and technology are fixed.
Government-Mandated
Regulations or requirements imposed by governmental bodies that must be followed by individuals, businesses, or other organizations.
Demand Curves
A graphical representation showing how the quantity demanded of a good or service varies with its price.
Supply Curves
A graphical representation of the relationship between the price of a good and the quantity of the good supplied by producers.
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