As Long as a Product Is Ready in Advance of When

question 50

True/False

As long as a product is ready in advance of when customers demand it,the timing of when a product is manufactured does not influence the value-added.

---

Definitions:

Natural Gas

A fossil fuel composed mainly of methane, used as an energy source for heating, cooking, and electricity generation.

Wage Rate

The wage rate is the standardized amount of money paid for a specific unit of time worked, such as hourly or weekly rates, often determined by market forces or agreements.

Marginal Product

The additional output produced as a result of increasing one more unit of a single input, holding all other inputs constant.

Capital

Assets or resources that are used in the production of goods and services, including physical assets like machinery and buildings, as well as financial resources.