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14 cards from this deck
Value of the next best alternative foregone
Choosing one option means giving up another
Same thing (Production Possibility Curve/Frontier)
Reallocation of resources between two goods
Efficient use of resources
Law of increasing opportunity costs
Underutilisation of factors of production
Economic growth or increased productive efficiency
Worsening quality/fall in factors of production
Technology improvement for one good increases its production
Slope of the PPC
10,000 bushels wheat, zero corn
8,000 bushels corn, zero wheat
5,000 bushels wheat & 4,000 bushels corn
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