Examlex
A list of the activities identified in the design of an activity-based system is called an activity inventory.
Labor
The effort of humans, including both physical and mental labor, utilized in creating goods and providing services.
Marginal Product
The increase in output resulting from a one-unit increase in the amount of a single input while holding other inputs constant.
Average Product
The total output produced per unit of a factor of production, calculated as total product divided by the quantity of the factor used.
Marginal Product
The additional output produced by adding one more unit of a specific input, while holding other inputs constant.
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