Examlex
A certain level of responsibility to which many qualified applicants find themselves rising to, and then no higher, despite their ability and willingness to contribute further to the goals of the firm is called
Specialization
The process by which individuals, firms, or countries concentrate on producing a narrow range of goods or services, often to increase efficiency and output.
Economic System
The organized way in which a country or a society allocates its resources and apportions goods and services in the national community.
Fundamental Questions
Basic questions that economies face regarding what to produce, how to produce, and for whom to produce, based on limited resources.
Unemployment
The failure to use all available economic resources to produce desired goods and services; the failure of the economy to fully employ its labor force.
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