Examlex
Complete the following: Apothecary system: The basic unit of volume is the _________ which is abbreviated _______. The basic unit of weight is the _________ which is abbreviated ______.
Product Market
The marketplace where final goods or services are offered to consumers, businesses, and the public.
Output Market
The output market is the marketplace in which goods and services produced by firms are sold or exchanged, contrasting with input markets where firms buy resources needed for production.
Labor
The physical and mental effort used to produce goods and services.
Normal Good
A good for which demand increases when consumer income rises, and decreases when consumer income falls.
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