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Units of Labor
Refers to the measurement of labor force involvement, typically in terms of person-hours or person-years.
Inputs Hiring
The process of acquiring the necessary resources, such as labor and raw materials, required for the production of goods or services.
Monopoly and Monopsony
A market structure where a single company dominates the supply side as a monopoly, or the buying side as a monopsony, of a market.
Resource Markets
Markets where productive inputs like labor, raw material, and capital are bought and sold.
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