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United States
A nation situated in North America, made up of 50 states and one federal district, renowned for its vast economy and varied demographics.
Factors of Production
The inputs used in the production of goods or services in the process of economic activity, including land, labor, capital, and entrepreneurship.
Inputs
Resources such as labor, capital, and materials used in the production process to create an output.
Marginal Product
The additional output that is produced by adding one more unit of a specific input while holding all other inputs constant.
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