Examlex
Gina has a genotype for average sociability. If she is in an environment where sociability is discouraged, she is likely to be below average in sociability. If she is in an environment where sociability is encouraged, she may be above average in sociability. The fact that Gina's genotype can lead to different phenotypes depending on the environment is a phenomenon referred to as
Opportunity Cost
Abandoning potential gains available from alternative choices when one is picked.
Bushel
A unit of volume that is used primarily in agriculture, specifically for measuring volumes of dry goods such as grains and fruits.
Comparative Advantage
The ability of a country or firm to produce a particular good or service at a lower opportunity cost than its competitors.
Absolute Advantage
The ability of an entity to produce more of a good or service with the same amount of resources than another entity.
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