This Is the Smallest Sector of Employment in the Most

question 80

Multiple Choice

This is the smallest sector of employment in the most developed countries.

• A) primary
• B) secondary
• C) tertiary
• D) quaternary
• E) quinary

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Definitions:

Cost Of Labor

The total amount paid to employees for their work, including wages, benefits, and any other compensation.

Isocost Line

A graph line representing all combinations of inputs that have the same total cost for a firm.

Total Cost

The sum of all costs incurred by a firm in the production of goods or services, including both fixed and variable costs.

Isocost Line

A diagram representing every possible mix of inputs that can be acquired for a specific total expenditure.