Examlex
Which of the following did William James list as human instincts in his landmark text, Principles of Psychology?
Production Possibilities Frontier
A curve depicting all maximum output possibilities for two or more goods given a set of inputs (resources), assuming all inputs are used efficiently.
Economic Growth
Refers to the increase in the production of economic goods and services, from one period to another, often measured by GDP (Gross Domestic Product).
Technological Advance
The development of new technologies or the improvement of existing technologies to enhance productivity, efficiency, or quality in goods and services.
Opportunity Cost
The economic impact of rejecting the following preferable option when deciding.
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