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Iqtisodiy xarajat

Economic (opportunity) cost

A payment that must be made to obtain and retain the services of a resource; the income a firm mustprovide to a resource supplier to attract the resource away from an alternative use; equal to the quantity of other products that cannot be produced whenresources are instead used to make a particular product.

Iqtisodiy foyda

Economic (pure) profit

The total revenue of a firm less its economiccosts (which includes both explicit costs and implicit costs); also called above normal profit.

Iqtisodiy o’sish

Economic growth

(1) An outward shift in the production possibilitiescurve that results from an increase in resource supplies or quality or an improvement in technology; (2) an increase either in real output (gross domestic product) or in real output per capita.


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