Examlex
Deforestation of the Amazon rainforest for cattle grazing is an example of
Transaction Cost
Expenses incurred when buying or selling goods or services, beyond the price of the goods or services themselves.
Specialized Resources
Resources uniquely suited or trained to perform specific tasks or functions within an economic system, enhancing efficiency and productivity.
Opportunity Cost
The financial loss associated with rejecting the subsequent optimal choice in any decision-making scenario.
Specialized Tools
Equipment or instruments designed for specific tasks or professions, enhancing efficiency and precision.
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