Examlex
Which methodological feature was the hallmark of early ecological studies based in the Chicago School of Sociology (e.g., Park & Burgess, 1925; Shaw & McKay, 1942) ?
Full Employment
Full employment refers to the condition in which all available labor resources are being used in the most efficient way possible, minimizing unemployment to only frictional or structural levels.
Opportunity Cost
The value of the next best alternative forgone as a result of making a decision.
Submarine
A watercraft capable of independent operation underwater, often used for military purposes.
Production Possibility Frontier
An illustration representing the maximum production capabilities for multiple goods with a certain amount of resources.
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