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Assume You Are a Parent of a Child in School

question 119

Multiple Choice

Assume you are a parent of a child in school.From your point of view, what type of organization is a school's parent-teacher association (PTA) ?


Definitions:

Labor

The combined physical and mental exertion employed in creating goods and services.

Marginal Physical Product

The change in total physical output that results from a one-unit increase in the quantity of one input, holding other inputs constant.

Marginal Revenue Product

The extra income derived from the use of an additional unit of a resource or input in production.

Input

Resources such as labor, materials, and capital that are used in the production process to create goods and services.

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