The Amount of Goods and Services Produced from Each Unit

question 66

Multiple Choice

The amount of goods and services produced from each unit of labor input is called

• A)opportunity cost.
• B)productivity.
• C)externality.
• D)marginal benefit.

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Definitions:

Common Defense

A concept referring to measures taken by a nation or group of nations to protect against common threats or aggression.

Voluntarily Assumed

Taking on responsibilities or obligations by choice rather than because of a legal requirement.

Defect Exists

A statement indicating that a flaw or fault in a product or service has been identified.

Negligence-Based

Pertaining to a cause of action that arises from the failure to exercise a standard of care, resulting in harm to another.