Examlex
One advantage of being your own boss and owning a small business is that work hours are very flexible and leisure time is abundant.
Production Possibilities Curve
A graphical representation showing the maximum quantity of goods and services that can be produced with a fixed amount of resources.
Efficiently
The quality of achieving maximum productivity with minimum wasted effort or expense, often used in the context of economic resource allocation.
Legal System
A framework of laws and regulations that govern the behavior of individuals, organizations, and governments.
Property Rights
Rights to own, utilize, and manage assets legally.
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