Examlex
Explain how a database is updated using batch processing.
Natural Resources
Resources present in nature, like minerals, forests, water, and fertile lands, that can be tapped for making money.
Absolute Advantage
The ability of a country or individual to produce a good or service more efficiently than other countries or individuals, using fewer resources.
Production Possibilities Frontiers
A curve depicting the maximum output combinations of two goods that can be produced given the resources and technology.
Opportunity Cost
The value of the best alternative that must be forgone when making a choice.
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