Examlex
Major companies such as Xerox and IBM entered the Japanese market due to a higher growth rate in that market.
Shifted Inward
A term used in economics to describe a decrease in the production possibility frontier, indicating reduced capacity or efficiency.
Technological Progress
The advancement in technological capabilities leading to improved products, processes, or services.
Production Possibilities Curve
A visual chart that depicts the highest number of products or services that can be manufactured using a set amount of resources.
Outward Shift
An increase in the potential output of an economy, often represented by an outward movement on a graph.
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