Facilitating Function Activities Include

question 131

Multiple Choice

Facilitating function activities include

• A)buying and selling.
• B)assorting,sorting,and storing.
• C)financing,grading,and marketing information and research.
• D)risk taking.
• E)transportation.

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Definitions:

Total Product

The total amount of goods or services produced by a firm or an economy at a given level of resource utilization.

Marginal Product

The additional output generated by employing one more unit of a specific factor of production, holding all other factors constant.

Total Product

The total quantity of output or goods produced by a firm or company using a given quantity of inputs during a specific time period.

Marginal Product

The additional output generated by adding one more unit of a specific input, all other inputs being held constant.