Examlex
Which of the following is not among the financial applications where simulation can be applied?
Specialization
The process of focusing work and production on a limited range of activities, leading to increased efficiency and expertise in those areas.
Tonnage
A measurement of weight or volume used to quantify cargo, shipping capacity, or displacement of ships, traditionally measured in tons.
Production Possibility Frontier
A curve depicting all maximum output possibilities for two or more goods given a set of inputs (resources), representing the trade-offs of choosing one good over another.
Gains From Trade
The benefits obtained by countries or individuals from engaging in international trade, allowing for specialization and more efficient production.
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