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Submarine
A watercraft capable of independent operation underwater, often used for military purposes.
Production Possibility Frontier
An illustration representing the maximum production capabilities for multiple goods with a certain amount of resources.
Opportunity Cost
The economic consequence of bypassing the closest better choice when making a decision.
Production Possibility Frontier
A curve depicting all maximum output possibilities for two or more goods given a set of inputs (resources, technology, etc.), assuming all resources are fully and efficiently utilized.
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