__________Is a Measure of What the System Does

question 58

Essay

__________is a measure of what the system does.

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Definitions:

Output

The total amount of goods and services produced by an economic system, typically measured over a specific time period.

Productive Input

Resources, such as labor, materials, and machinery, used in the production process to create goods or services.

Industrial Policy

Government policies aimed at improving the economic and competitive environment for businesses, often focusing on sectors believed to be significant for economic growth.

Regional Innovations

Novel products, processes, or techniques developed within a specific geographic area, contributing to its economic growth.