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A Point Outside the Production Possibilities Frontier

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A point outside the production possibilities frontier


Definitions:

Morale

The overall outlook, confidence, feeling, and spirit of a person or group, especially in the context of work or duties.

Pareto Analysis

A statistical technique in decision-making used for the selection of a limited number of tasks that produce significant overall effect. It is often referred to as the 80/20 rule.

Scatter Diagram

A graphical representation used to visualize the relationship between two variables, showing how one variable is affected by the other.

Flow Chart

A diagram that represents a process or workflow, typically showing the steps as boxes of various kinds and their order by connecting them with arrows.

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