Examlex
A fundamental problem in international economics is how to produce
Direct Labor
The labor cost directly associated with the production of goods, including wages for workers who physically convert materials into the finished product.
Raw Materials
The basic materials from which products are made, typically not yet processed or used in manufacturing.
Finished Products
Goods that have completed the manufacturing process but have not yet been sold or distributed to end customers.
Labor Costs
The total expenditure incurred by employers to compensate employees, including wages, salaries, benefits, and taxes.
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