Examlex
What does union structure seek to ensure?
Technological Advance
The introduction or improvement of technology, leading to increased efficiency, productivity, or new capabilities within society or specific industries.
Production Possibilities Curve
The production possibilities curve illustrates the maximum possible output combinations of two goods that an economy can achieve when all resources are fully and efficiently utilized.
Output
The cumulative volume of goods or services yielded by a business, industry, or economic structure.
Production Possibilities Diagram
A graphical representation showing the maximum number of output combinations that an economy can achieve using its resources efficiently.
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