Examlex
_____ not only provide factors of production (or resources) but also consume goods and services.
Computer Software
Programs and operating information used by a computer to perform specific tasks or functions.
Medallion
A distinctive badge or emblem typically made of metal, granted as a mark of honor or authenticity.
Opportunity Cost
The cost of foregone alternatives; the value of the best alternative that is not chosen in order to pursue a certain action.
Implicit Cost
The opportunity cost associated with a firm's use of resources that it owns, which do not have a direct monetary payment but could generate income if deployed elsewhere.
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