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Mike and Sandy are two woodworkers who both make tables and chairs. In 1 month, Mike can make 4 tables or 20 chairs, where Sandy can make 6 tables or 18 chairs. What is the opportunity cost of 1 table?
BYOD Phenomenon
Refers to "Bring Your Own Device," a policy allowing employees to use their personal devices for work-related activities, increasing flexibility but also presenting security challenges.
Technology Pressure
A situation where businesses or individuals feel compelled to adopt and integrate new technologies to stay competitive or relevant in the modern digital landscape.
Digital Divide
The gap between those who have access to information and communications technology and those who do not.
Societal Pressure
Refers to the influence exerted by society on individuals or groups to conform to certain norms, behaviors, or values.
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