The Most Important Language of Trade Today Is

question 35

Multiple Choice

The most important language of trade today is:

• A) Hindi.
• B) Spanish.
• C) Mandarin Chinese.
• D) English.

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Definitions:

Value of the Marginal Product

The additional revenue generated by employing one more unit of a factor, such as labor or capital.

Profit-Maximizing

A strategy or process by which a business seeks to generate the highest possible profit from its operations.

Marginal Product

The additional output a firm produces as a result of hiring one more unit of input, such as labor or capital, holding all other factors constant.

Marginal Product

The additional output that results from using one more unit of a factor of production, keeping other factors constant.