Examlex
The event that marked the formal beginning of psychology as a separate experimental science occurred when William James taught the first course in psychology at Harvard University in the early 1870s.
Rapidly Growing
This term is used to describe entities (e.g., economies, companies) that experience a significantly higher-than-average increase in size, value, or performance over a short period.
Efficiently Produce
The process of creating goods or services using the least amount of resources while maximizing output.
Economy's Resources
Economy's resources refer to the total inputs available to produce goods and services, including labor, capital, land, and entrepreneurship.
Inside The Frontier
A condition in which an economy is not operating at its full productive capacity, implying underutilization of resources.
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