Examlex
Precession of the rotation axis of Earth is caused by
Marginal Benefits
The improvement in benefit or utility realized by consuming or producing one more unit of a good or service.
Least-Cost Production
An economic principle where firms seek to produce their output at the minimum possible cost to maximize efficiency and profitability.
Inward Shift
A movement towards the origin of a supply or demand curve, indicating a decrease in supply or demand for a product.
Production Possibilities Curve
A graph representing the maximum combination of goods and services that can be produced with available resources and technology.
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