Examlex
Purina has a new product idea to create a cat food that will give cats more energy and allow them to live longer, more pleasurable lives. Management appoints a team to convert this cat food idea into an actual product. This process is called
Production Possibilities
Different mixtures of products and services that an economy can generate with its current resources and technological capabilities.
Fish
Aquatic animals that are primarily gilled and often harvested for food, sport, or aquariums.
Coconuts
Tropical fruits with a hard shell, edible white flesh, and clear liquid inside, often found in coastal regions.
Factor Of Production
An input used in the creation of a good or service; these include labor, capital, land, and entrepreneurship.
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