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Joseph was a conscientious objector during World War II because he believed that all wars are immoral. Joseph is in Lawrence Kohlberg's _____ stage of moral development, because Joseph is using his own moral guidelines to guide his behavior, apart from society's rules.
Resource
An asset or input used to produce goods and services, including time, money, labor, and natural resources.
Purely Competitive Market
A market structure characterized by many buyers and sellers, free entry and exit, and a homogeneous product, leading to price takers on both sides of the market.
Imperfectly Competitive Market
A market structure where individual sellers have some control over the price of their goods due to product differentiation or other factors.
Total Product
The overall quantity of output that a firm produces, usually in relation to a given input of labor or capital.
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