Examlex
A variable budget does not allow the allocation of resources to vary in proportion with various levels of activity.
Inputs
The resources such as labor, materials, and capital that are used in the production process to produce goods and services.
Spending By Households
Total expenditures made by individual consumers on goods and services in an economy.
Circular-flow Diagram
A visual model in economics that shows how money, goods, and services flow through the economy between households and firms.
Factors Of Production
The assets utilized in creating goods and services, encompassing land, work, money, and business initiative.
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