Examlex
The products of nitrogen-fixing organisms can be oxidized to form nitrites and nitrates by
Comparative Advantage
The ability of an individual or group to produce a good or service at a lower opportunity cost than others, leading to more efficient trade possibilities.
Production Possibility
A graph showing the highest possible production levels of two items, using a specific combination of resources and various factors.
Opportunity Costs
Making a choice results in the loss of potential profit that could have been earned from choosing differently.
Increasing Opportunity
In economic terms, refers to the increasing cost associated with producing additional units of a good, implying that producing more of one good requires sacrificing increasingly larger amounts of another good.
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