Examlex
A want is something that an individual desires to have, but may not necessarily need.
Allocation of Resources
The distribution of scarce resources among various uses or people within an economy.
Economic Profits
The difference between a firm's total revenue and its total expenses, including both explicit and implicit costs.
Product Price
The amount of money required to purchase a specific product or service.
Production Capacity
The maximum output that a business can produce in a given period under normal conditions.
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