Examlex
What is the term for the pressure that develops when two solutions of varying concentrations are separated by a membrane?
Production Possibilities
The different quantities of various goods and services that an economy can produce with given resources and technology.
Equilibrium
A state in which market supply and demand balance each other, and as a result, prices become stable.
Comparative Advantage
The ability of a country, individual, or firm to produce a particular good or service at a lower opportunity cost than others.
Marginal Cost
The cost incurred by producing one additional unit of a product or service.
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