Examlex
________ a government-administered retirement program.
Labor Productivity
A measure of the amount of goods and services produced by one hour of labor.
Capital-Intensive
A business process or industry that requires large amounts of capital investment in comparison to labor.
Average Product
The output per unit of a given input, typically labor, calculated by dividing total product by the quantity of that input.
Marginal Product
The additional output generated by adding one more unit of a particular input, holding all other inputs constant.
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