Examlex
The concavity or bowed-out shape of the production possibilities frontier is the result of
Bushels
A measure of volume commonly used in agriculture, particularly in the United States, for crops like wheat, corn, and soybeans.
Absolute Advantage
The ability of an entity to produce more of a good or service than competitors using the same amount of resources.
Opportunity Cost
The cost of foregone alternatives when a choice is made, represented by the benefits that could have been received by choosing the next best alternative.
Soybeans
Refers to a type of legume native to East Asia, widely grown for its edible bean which has numerous uses.
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