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Distinguish between caste and class type systems of stratification,using India and the U.S.as examples.In what ways does the social structure of the U.S.also resemble a caste system?
Marginal Product
The additional output generated by employing one more unit of a factor of production.
Demand for Crew
The need or requirement for staff or team members, particularly in sectors such as aviation, maritime, and entertainment, where specific skill sets are necessary for operations.
Factor Market
A marketplace for the services of a factor of production, such as labor, capital, or land.
Labor-Augmenting Technology
Technological advancements that improve the efficiency of labor, resulting in higher output per worker.
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