An Individual Piece of Data on a Data Series Is

question 54

Short Answer

An individual piece of data on a data series is also known as a(n)________.

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Definitions:

Output

The quantity of goods or services produced within a given time period.

Factor Prices

The costs of the inputs that are used in the production of goods or services.

Production Function

A mathematical relationship describing the maximum output possible from a given set of inputs.

Units Of Output

The total quantity of goods or services produced by a company or industry in a specific period.