What Word Do We Use to Refer to the Amount

question 160

Short Answer

What word do we use to refer to the amount of goods and services produced for each hour of a worker's time?

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Definitions:

Demand Curve

A graph showing the relationship between the price of a good or service and the quantity demanded by consumers.

Supply Curve

Graphically represents the relationship between the price of a good and the quantity of that good that suppliers are willing and able to sell.

Quantity

The amount or number of a material or product available or produced.

Price

The expenditure foreseen, necessary, or allocated in trading for something.