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Match Each Description with the Item Below

question 19

Multiple Choice

Match each description with the item below.
-Henry Clay


Definitions:

Units of Output

The amount of product that a company produces in a given period.

Workers

Individuals engaged in any form of economic activity to earn a wage or salary, including both skilled and unskilled labor.

Total Cost

The complete cost of production that includes both variable and fixed costs.

Economics

The social science that studies how individuals, governments, firms and nations make choices on allocating scarce resources to satisfy their unlimited wants.

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