Examlex
Since induced voltage is always in opposition to applied voltage, the applied voltage must overcome the induced voltage before current can flow through the circuit.
Bowed Outward
Describes a curve on a graph, typically a production possibility frontier, indicating increasing opportunity costs when shifting resources between two goods.
Opportunity Cost
The cost of choosing one option over another, typically the best alternative forgone as a result of making a decision.
Efficient
Efficiency refers to the optimal production and distribution of resources in a way that best meets the needs and desires of consumers.
Scarce Resources
Natural, human, and capital resources that are limited in supply and can be used for the production of goods and services.
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