Examlex
There are hydronic heating applications where control action is required based on the difference between two temperatures rather than the value of either temperature.
Suited
The term "suited" refers to being appropriately fitted or tailored for a specific purpose or situation.
Increasing Opportunity Costs
The concept that as the production of one good is increased, the opportunity cost of producing additional units rises.
Production Possibilities Curve
A graph that shows the maximum possible output combinations of two goods or services an economy can achieve when all resources are fully and efficiently utilized.
Bowed Outward
Refers to the shape of a production possibility frontier that shows increasing opportunity costs as production shifts between two goods.
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