Examlex
________ is an iterative process of breaking the description of a system down into finer and finer detail,which creates a set of charts in which one process on a given chart is explained in greater detail on another chart.
Natural Resources
Elements found in the natural environment such as minerals, forests, water, and fertile soil, which can be harnessed for economic profits.
Long-Run Aggregate Supply Curve
A graphical representation showing the relationship between the overall price level and the total output a economy can produce when all resources are fully employed, assuming no changes in technology or resource availability.
Technological Breakthrough
Sudden, significant progress or innovation in technology that dramatically changes industries or societies.
Energy Prices
Energy prices refer to the cost of primary sources of energy such as oil, natural gas, coal, and renewable sources, which can fluctuate based on supply, demand, geopolitical factors, and other variables.
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