Examlex
By age ___, the average child has a vocabulary of 900 to 1,000 words.
Least-Cost Production Technique
An approach in production that minimizes input costs for a given output level, optimizing resource use efficiency.
Competitive Market Economy
An economic system where supply and demand determine the prices of goods and services, with minimal government intervention.
Economically Most Efficient
The state of achieving the highest level of output with the lowest possible input, optimizing the use of resources without waste.
Resource Prices
The cost of inputs used in the production of goods and services, such as labor, raw materials, and capital.
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