Examlex
Strikers engaged in activities that are not protected by law must still be rehired after the strike.
International Specialization
The economic strategy where countries focus on the production and export of goods and services that they can produce most efficiently.
Full Employment
An economic condition where all available labor resources are being used in the most efficient way possible, typically signifying a very low unemployment rate.
Productive Efficiency
A state where an economy or firm produces goods or services at the lowest possible cost, using all resources effectively.
Production Possibilities Curve
A graph that shows the various combinations of outputs that a society can produce given the available factors of production and technology.
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