Examlex
-Refer to Figure 8.2.Diminishing marginal returns set in after the ________ worker is hired.
Factor Distribution
Refers to the way in which income is distributed among the factors of production, typically labor, capital, and land.
Human Capital
The combined abilities, expertise, or other non-physical assets belonging to people that can be leveraged to generate economic worth.
Proprietor's Income
The income earned by the owner of a sole proprietorship, which consists of the profits generated by the business.
Production Factor
An input used in the manufacturing of goods or services, typically categorized into land, labor, and capital.
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