Examlex
Describe the two types of implied warranties.
Marginal Productivity
The extra output that a business gains by adding one more unit of input, such as labor or capital.
Income Distribution
The way in which a country’s total GDP is spread amongst its population, affecting economic equity and quality of life.
Value Added
The increase in the value of a product or service as it passes through each stage of production or supply chain.
Marginal Productivity
The extra output or benefit gained from increasing one unit of a particular resource while keeping other resources constant.
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