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What is an offer? What are the three conditions necessary for the creation of an offer?
Capital Stock
Refers to the total amount of physical assets owned by a company that are used in producing goods or services.
Technology
Application of scientific knowledge for practical purposes, especially in industry and improvements in tools, machines, techniques, and processes.
Economic Growth
The increase in the inflation-adjusted market value of the goods and services produced by an economy over time. It is conventionally measured as the percent rate of increase in real gross domestic product, or real GDP.
Production Possibility Frontier
A graphical illustration showing the maximum attainable combinations of two products that can be produced with available resources and technology, highlighting the trade-offs and opportunity costs.
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