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Marginal productivity theory states that if a firm sells its product in a perfectly competitive product market it will necessarily pay its factors their VMP.
Technologies
The application of scientific knowledge for practical purposes, especially in industry and everyday life.
Suburbs
Residential areas situated on the outskirts of a city or large town, typically characterized by lower population density than urban centers.
Leisure Time
Free time that an individual can use for relaxation, recreation, or personal interests, distinct from time spent on obligatory activities such as work or household chores.
Recreation
Activities undertaken for enjoyment, leisure, and relaxation, typically during one's free time.
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