Examlex
Data modeling starts with a very complex representation,and as knowledge of the problem is gained,the model is simplified.
Terms Of Trade
The ratio at which a country can trade its exports for imports from other countries, indicating the economic value of goods a country can procure through international trade.
Specializing
The process of focusing on and becoming an expert in a particular subject or skill, often leading to increased efficiency and productivity.
Maximum-Output
The highest level of production that a company can sustain over the long term without increasing its costs per unit of output.
Mutually Beneficial Exchange
An economic interaction where all parties involved gain or perceive a gain from the transaction.
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