Examlex
The tendency to adjust our behavior relative to the changing demands of social or environmental situations is known as:
Opportunity Costs
The cost of choosing one option over another, represented by the value of the opportunities or benefits the second-best choice would have provided.
Aggregate Demand
The total demand for goods and services within a particular market or economy at a given overall price level and in a given time period.
Full Employment
A situation where all available labor resources are being used in the most economically efficient way.
Ppf (Production Possibility Frontier)
A curve depicting the maximum possible output of two goods or services that can be produced with a fixed set of resources and technology, assuming all resources are fully employed.
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