Examlex
Which of the following is likely to be a characteristic of a developing economy?
Lottery Tickets
Pieces of paper or digital receipts purchased in hopes of winning a large sum of money through a process of random selection.
Production Possibilities Curve
A graphical representation that shows the maximum quantity of one good that can be produced for every possible quantity of another good produced, given available resources and technology.
Decreasing Opportunity Costs
A situation in which the opportunity costs of resources decrease as more of a good is produced.
Increasing Opportunity Costs
A situation where increasing production of one good requires larger and larger sacrifices in the production of another good due to limited resources.
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