Examlex
Divide and simplify.
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Input
Resources such as labor, materials, and capital that are used in the production process to create goods and services.
Derived Demand
is the demand for a good or service that results from the demand for another good or service. For instance, the demand for steel is derived from the demand for cars.
Factors of Production
The resources of land, labor, capital, and entrepreneurial ability.
Final Goods
Products that have completed the manufacturing process and are ready to be used or consumed by the end-user.
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