The Labels and Values Upon Which Excel Calculations Are Based

question 111

True/False

The labels and values upon which Excel calculations are based are outputs.

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Definitions:

Inputs

The resources, labor, materials, and capital, that are used in the production process to create goods or services.

Profitable

Describing a situation, venture, or entity that generates income in excess of its expenses, thereby yielding a financial gain.

Marginal Product

The additional output produced as a result of utilizing one more unit of a particular input, holding all other inputs constant.

Labor Input

The total hours worked by employees or the effort exerted by workers in the production of goods and services.