Instructions: Identify the Following

question 6

Essay

Instructions: Identify the following. Be as specific as possible, and include names, dates, and relevant facts as appropriate. Be sure to explain the significance of the person or term.
Town meeting

---

Definitions:

Opportunity Cost

The value of the next best alternative that is foregone as a result of making a decision.

Technological Advance

The progression or improvement in technology, leading to enhanced productivity, efficiency, or quality in goods and services.

Economy

The system by which goods and services are produced, distributed, and consumed within a particular area or country.

Basic Decisions

Fundamental choices or determinations made to guide actions, policies, or strategies, often in businesses or personal planning.