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Match Each Term with Its Description or Definition

question 103

Multiple Choice

Match each term with its description or definition.
-gland that secretes oil for hair and skin


Definitions:

Inputs

The resources (such as labor, capital, materials, and energy) used in the production process to produce goods and services.

Marginal Product

The increase in output that results from employing one more unit of a factor of production, holding all other factors constant.

Labor Costs

The total expenses incurred by companies for the payment of wages, benefits, and taxes associated with the employment of labor.

Capital Costs

Expenditures for acquiring fixed assets such as buildings, machinery, and equipment, or the costs associated with improving existing assets.

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