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Discuss the reasons that may explain why voluntary associations exist.
Input
Resources used in the production process to produce goods or services, such as labor, raw materials, and capital.
Output
The amount of goods or services produced by a company, industry, or economy.
Function
A relation between a set of inputs and a set of permissible outputs, typically defined by a rule that every input is related to exactly one output.
Production Function
A mathematical model that describes the relationship between inputs used in production and the output generated from those inputs.
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