Examlex
One of the most significant contrasts between Old and New World food production involved animal domestication. Describe this contrast and its possible consequences on the diverging pattern of history on both sides of the Atlantic.
Average Product
The output per unit of input, calculated by dividing total product by the quantity of input used in its production.
Marginal Product
The additional output generated by employing one more unit of a specific factor of production.
Total Product
The total quantity of output produced by a firm during a given period of time.
Labor Intensive
A production process that requires a higher proportion of labor compared to capital in the production of goods and services.
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