Examlex
In the context of factors of production, which of the following is a natural resource?
Total Costs
The total of all expenses involved in creating goods or services, encompassing both fixed and variable costs.
Daily Profit
The financial gain or loss a business experiences on a daily basis, calculated as the difference between daily revenue and daily expenses.
Capacity
The maximum output that a company can produce under normal conditions.
Marginal Costs
The surge in all-encompassing cost following the production of an additional unit of a product or service.
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