Examlex
Which of the following is an example of a nominal-kind category?
Input
Refers to the resources used in the production of goods and services, such as labor, raw materials, and capital.
Returns To Scale
The change in output as all inputs are increased proportionally in the production process.
Inputs
The resources such as labor, materials, and capital that are used in the production process to create goods and services.
Returns To Scale
The rate at which output increases in response to proportional increases in all inputs or factors of production.
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