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Description
Flashcards by morgan-flower, updated more than 1 year ago
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Created by morgan-flower
about 11 years ago
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| Question | Answer |
| PPF | Possibilities production Curve shows if company is overproducing one product compare to another. |
| Opportunity cost | The cost of not having something else you could have bought for the same amount as the item you have bought. |
| Producer | Someone who makes or sells a good or service |
| Good | A thing that you can buy to use |
| Service | Something that includes labor and goods to produce something |
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