Examlex
A(n) ____ translates a program written in a high-level language into the equivalent machine language.
Goods and Services
The products (goods) and activities (services) that are produced and sold to satisfy human wants and needs.
Law of Comparative Advantage
A principle that states that countries or individuals gain by producing goods for which they have a lower opportunity cost relative to other producers, leading to more efficient global resource allocation.
Economic Goods
Products or services that have a price and are consumed by individuals or groups to satisfy needs or wants.
Opportunity Cost Producer
The cost incurred by a producer when choosing one production opportunity over another, measured in terms of the benefit forgone from the alternative not chosen.
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