Examlex
Client/server refers to a computing environment where software and storage are provided as an Internet service and accessed with a Web browser.
Wage Rate
The standard amount of compensation paid to an employee per unit of time worked, typically expressed on an hourly or monthly basis.
Competitive Market
A market structure characterized by a large number of buyers and sellers, free entry and exit, and a product that is similar across suppliers, leading to price determination by supply and demand.
Production Function
A mathematical schema that links the inputs utilized in creating goods or services to the outputs produced.
Supply Function
A mathematical relationship that expresses the quantity of a good or service supplied in relation to its price.
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