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Bicycles
Human-powered, pedal-driven vehicles with two wheels attached to a frame, one behind the other, used for transportation, recreation, or sport.
Production
The process of combining various material inputs and immaterial inputs (plans, know-how) to make something for consumption (the output).
Opportunity Cost
The cost of forgoing the next best alternative when making a decision or taking an action.
Autarky
A national economic policy aimed at self-sufficiency, avoiding the import of foreign goods.
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