Examlex
A time deposit that earns interest is a
Increasing Opportunity Costs
The concept that the cost of forgoing the next best alternative increases as resources become more specialized in production.
Guns And Butter
A term used to describe a country's decision to allocate its resources between defense and civilian goods.
Production Possibility Frontier
A curve depicting all maximum output possibilities for two or more goods given a set of inputs.
Production Possibility Frontier
A curve depicting the maximum attainable combinations of two products that may be produced with available resources and technology.
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