Examlex
The exclusion of minorities from the upper levels of education is likely to affect their opportunities, such as access to high-paying jobs and advancement. This is an example of how institutional discrimination is reinforced because institutions are
Scarce Inputs
Resources or factors of production that are limited in supply, which constrains economic output and allocative efficiency.
Petroleum Production
The process of extracting crude oil from the earth and refining it into usable petroleum products.
Medical Care
The diagnosis, treatment, and prevention of disease, illness, injury, and other physical and mental impairments in humans through professional services.
Constant-cost Industry
An industry where input prices do not change as industry output changes, resulting in a horizontal supply curve.
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