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3 Cards in this Set

  • Front
  • Back

Front (Term)


Opportunity cost

Back (Definition)


The foregone value of the next best alternative

Front (Term)


Full employment

Back (Definition)


When A societies human resources are being used with maximum efficiency


4 to 6% unemployment rate

Front (Term)


Full production

Back (Definition)


Went to societies resources are being allocated in the most efficient manner possible