Examlex
Which of the following statements is INCORRECT?
Machine-sewn Products
Goods that are manufactured using sewing machines, often implying mass production and consistent quality.
Wage Rate
The amount of money paid to an employee per unit of time, such as an hour or a week.
Capital
Refers to financial assets or the financial value of assets, such as cash and investments, as well as physical assets like machinery or buildings, used in the production of goods and services.
Fixed Proportions
A production scenario where inputs are used in a constant ratio, regardless of the level of output.
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