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Hearing that her job has been terminated, Eleanor has responded by saying, "I never will get another job. There is no other work that I can do." Her counselor responds by saying, "There are other jobs that you can do. I will help you consider other types of work." The counselor's statements most clearly fits
Opportunity Cost
The financial setback of forgoing the next highly regarded alternative when determining a course of action.
Technological Advance
Improvements and innovations in technology that increase productivity, efficiency, and economic output.
Machine-making Industry
A sector of the economy focused on the manufacturing and maintenance of machines and mechanical equipment.
Production Possibilities Frontier
A portrayal that shows the maximum achievable production levels for two goods, based on a selection of inputs involving resources and extra factors.
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