Examlex
A modern example of direct democracy occurs when citizens
Profit-Maximizing Quantity
The level of production at which a firm achieves the highest possible profit.
Good Increases
A term that is not well-defined in an economic context; possibly refers to growth in the quality or quantity of goods.
Labor
Human effort used in production which can include physical and mental contribution.
Price-Taking Farmer
An agricultural producer who has no control over the prices of the products they sell and must accept the prevailing market prices.
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