Examlex
Discretion refers to the power to make decisions by criminal justice officials.
Production Possibilities
A concept in economics that describes the maximum output combinations of goods or services an economy can achieve when all resources are fully and efficiently utilized.
Capital Goods
Long-lasting goods that are used in the production of other goods or services, such as machinery, buildings, and equipment.
Consumer Goods
Tangible items produced for personal use by individuals.
Production Possibilities Curve
A graphical representation showing the maximum number of goods or services that can be produced using limited resources efficiently.
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