Examlex
Process modeling illustrates the movement of information between external entities and the processes and data stores within the system.
Opportunity Cost
The expense incurred by not choosing the second-best option when making a decision.
Scarcity
The basic economic issue arises from endless human desires and needs in a context of scarce resources.
Full Production
The level of production where a company or economy is maximizing its use of resources and operating at its highest efficiency.
Full Employment
Refers to the condition in the labor market where virtually all who are willing and able to work at prevailing wage rates are employed.
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