Examlex
To show each level of a system's design, its relationship to other levels, and its place in the overall design structure, structured methodologies use:
Production Possibilities Curve
A graphical representation showing the maximum combination of goods or services that can be produced in a given time period with available resources.
Consumer Goods
Products and commodities bought and used by individuals and households for personal consumption.
Capital Goods
Long-lasting goods that are used in the production of other goods and services but are not themselves part of the end product.
Opportunity Cost
The cost of forgoing the next best alternative when making a decision, representing the benefits one misses out on when choosing one option over another.
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