Examlex
When each factor is paid an amount equal to the value of the marginal product of the last unit of that factor employed in the factor market as a whole,this is:
Opportunity Cost
Renouncing the possibility of gains from different alternatives by making a single choice.
Human Desire
The intrinsic motivation or want for specific outcomes, experiences, or material possessions.
Social Problems
Issues that affect a significant number of people within a society, viewed as conditions warranting public concern and intervention.
Introductory Course
A foundational class designed to teach the basic principles and concepts of a subject to beginners.
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