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________ of a language are people for whom the language is their first language
Opportunity Cost
Opportunity cost is the value of the next best alternative foregone as a result of making a decision, representing the benefits an individual, investor, or business misses out on when choosing one alternative over another.
Allocatively Efficient
Allocatively Efficient means an economic state where resources are allocated in a way that maximizes the overall benefit to society, with goods and services distributed according to consumer preferences.
All Other Things Equal
A phrase used in economics, indicating that all other variables are held constant except the variables being studied.
Relevant Factors
Factors that significantly impact the analysis or outcome of a particular situation or model.
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