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Describe the advantages and disadvantages of air patrol and water patrol.
Factor of Production
An input used in the production of goods or services, such as labor, land, capital, and entrepreneurship.
Factor of Production
An input used in the production of goods or services, such as land, labor, capital, and entrepreneurship.
Competitive Market
A market structure characterized by many buyers and sellers, where no single entity can dictate the market price of the product or service.
Final Product
The last output of a production process, after all stages of production are completed.
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