Examlex
Over time,there has been a high correlation between actual rates of return on securities and the securities' standard deviations of returns.
Opportunity Cost
The cost of forgoing the next best alternative when making a decision or choosing a particular action.
Labor Resource
Human work effort, both physical and mental, utilized in the creation of goods and services.
Linear Production
A production process in which outputs are directly proportional to inputs, with a constant rate of output per unit of input.
Possibility Frontier
Also known as the production possibility frontier, it represents the maximum possible output combinations of two goods or services an economy can achieve with available resources and technology.
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