Examlex
Describe the process of DNA replication.
Labor
The exertion of mental or physical strength by humans to create goods and services.
Fixed Cost
Fixed cost refers to a cost that does not change with the level of goods or services produced by a business over a certain period.
Production
The creation or manufacture of goods and services with the combination of labor, equipment, technologies, and raw materials.
Diminishing Returns
A principle stating that if one factor of production is increased while others are held constant, the output per unit of the variable factor will eventually decrease.
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