Examlex
The traditional method to acclaim a new Mongol leader was to gather in an assembly known as
Profit
The financial gain achieved when the revenue from business activities exceeds the expenses, costs, and taxes needed to sustain the activity.
Production Function
A mathematical expression that describes the relationship between input factors of production (like labor and capital) and the output of goods or services.
Labor
Labor refers to the human effort, both physical and mental, used in the production of goods and services.
Output
The quantity of goods or services produced in a given time period by a firm, industry, or economy.
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