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________ May undergo exstrophy
Production Possibility Curve
A graphical representation showing the maximum combination of goods and services that can be produced in a given period with available resources.
Opportunity Cost
The expense incurred by not choosing the second-best option when making a decision.
Scarcity
The basic economic issue arises from endless human desires and needs in a context of scarce resources.
Full Production
The level of production where a company or economy is maximizing its use of resources and operating at its highest efficiency.
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