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What is the purpose of brainstorming? Identify three cardinal rules and three tips for healthy brainstorming.Explain why each is important.
Comparative Advantage
The ability of an entity to produce goods or services at a lower opportunity cost than others.
Quality Goods
Quality Goods are products that meet or exceed consumer expectations in terms of durability, reliability, and performance.
Production Possibility Frontier
A curve depicting the maximum attainable combinations of two products that may be produced with available resources and current technology.
Inefficiency
A situation where resources are not used in the best possible way, often leading to waste and a lower output than could be achieved.
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