Examlex
What is biometrics?
Production Possibilities Frontier
A graph that shows the highest potential production levels for two or more products based on available resources.
Full Employment
Full employment refers to the condition in which all available labor resources are being used in the most efficient way possible, minimizing unemployment to only frictional or structural levels.
Opportunity Cost
The value of the next best alternative forgone as a result of making a decision.
Submarine
A watercraft capable of independent operation underwater, often used for military purposes.
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