Examlex
Unintended consequences of economic actions that may develop slowly over time as people react to events is known as:
Goods and Services
Products and activities that fulfill the needs or desires of consumers, with goods being tangible objects and services being intangible activities.
Factors of Production
The inputs used to produce goods and services, typically classified into four main categories: land, labor, capital, and entrepreneurship.
Money
A medium of exchange that facilitates trade, serves as a unit of account, a store of value, and can be in the form of coins, notes, or electronic.
Comparative Advantage
The ability of an individual or country to produce a particular good or service at a lower opportunity cost than others.
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