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Identify the Three Definitions of Politics

question 13

Essay

Identify the three definitions of politics. Which one is considered to be the broadest of the three? Why?


Definitions:

MRP

Marginal Revenue Product, the additional revenue generated from employing one more unit of a factor of production.

Unit of Input

The smallest measure of an input (like labour, materials) used in the production of goods or services.

Complementary Resources

Assets or inputs that are used together with another resource to produce a good or service, enhancing each other's value in the process.

Employment

The condition of having paid work, involving an agreement where someone is paid to perform specific duties.

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