Describe the Main Sections or Elements That Are Included on Most

question 46

Essay

Describe the main sections or elements that are included on most résumés.

Apply the concept of opportunity cost in the context of trade and production decisions.

Recognize the relationship between specialization and economic efficiency, and how specialization leads to increased total output.

Understand how the production possibilities frontier can demonstrate the limitations and potential of production given current resources.

Identify circumstances under which individuals and countries benefit from trade, even when one party is more efficient in all areas of production.

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Definitions:

Validly Enacted Laws

Laws that have been properly passed and approved by the legislative process, and are therefore legally binding.

Just Law

A legal principle or legislation that is regarded as fair, morally right, and in accordance with ethical standards.

Equitable Remedy

A corrective action ordered by a court that involves doing or refraining from doing something, as opposed to paying damages, to address a legal wrong or a breach of contract.

Equity Courts

Courts that have jurisdiction over cases involving remedies other than monetary rewards, such as injunctions or specific performance, based on fairness.