Examlex
Why was Michelangelo's David not placed on the Florence Cathedral's facade as was originally planned?
Wages
Payment to resource owners for their labor.
Externality
A consequence of an economic activity experienced by unrelated third parties; it can be either positive or negative.
Precision-estimates
The accuracy of an estimate in terms of how closely it predicts the actual value, often relevant in statistical analyses and forecasting.
Opportunity Cost
The loss of potential gain from other alternatives when one alternative is chosen.
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