Examlex
Which of the following statements are CORRECT?
I. The "highest-valued alternative given up to get something" is the opportunity cost.
II. Wealthy economies don't experience opportunity costs.
III. Scarcity creates opportunity costs.
Energy Efficient
Description of devices, systems, or processes that use less energy to perform the same tasks as their less efficient counterparts, reducing overall energy consumption.
4G
Stands for fourth generation. The current mobile communication standard with faster data transfer rates than 3G.
Traffic Signal
A device that controls the flow of vehicles and pedestrians through intersections or roadways by using lights of standard colors (red, yellow, green).
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