Examlex
Gene probes can be labeled for detection with
Absolute Advantage
The ability of an individual, company, or country to produce a good or service more efficiently than competitors, using fewer resources.
Opportunity Cost
A different way to describe it would be the cost of missing out on the benefits of the second-best option when a choice is made.
Production Possibilities Frontier
A curve depicting all maximum output possibilities for two goods, given a set of inputs and technology, demonstrating the concept of opportunity cost.
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