Examlex
Giving a hungry rat food for pressing a bar before the rat has a chance to engage in other incidental behaviors like running or scratching best illustrates
Consumption Possibilities
The range of goods and services that can be consumed given a consumer's income and prices.
Physical Capital
Tangible assets used in the production of goods and services, such as machinery, buildings, and equipment.
Production Possibilities Curve
A graph that shows the different quantities of two goods that an economy can produce using all of its resources efficiently.
Scarcity
Fundamental concept of economics that indicates that there is less of a good freely available than people would like.
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