Examlex
In order to watch over the whole structure of his enlightened reform, Joseph II created:
Labor Input
Refers to the total hours worked or the number of employees engaged in production in the economy.
Goods and Services
The tangible products (goods) and intangible activities (services) that satisfy human wants and needs and are offered in the market.
Market Economy
An economic system in which production and prices are determined by unrestricted competition between privately owned businesses.
Economic Activity
Economic activity refers to the actions that involve the production, distribution, and consumption of goods and services in an economy.
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