Examlex
What is another name for a company's internal Internet?
Production
The process of combining various material inputs and immaterial inputs (plans, know-how) to make something for consumption.
Labor Demand Curve
A graphical representation showing the relationship between the wages paid to workers and the number of workers that employers are willing to hire.
Marginal Product
The additional output that is produced by using one more unit of a variable input.
Average Product
The output produced per unit of input, calculated by dividing total product by the number of units of input, often used to measure productivity.
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