Examlex
The European Union's Directive on Personal Data Protection does not in any way prohibit EU firms from transferring personal information to a non-EU country.
Expansion Path
In economics, the curve that shows how a firm's production changes as it increases inputs, keeping the input mix proportionate.
Marginal Product
The additional output obtained by employing one more unit of a specific input, keeping all other inputs constant.
Perfect Substitutes
Two goods for which the marginal rate of substitution of one for the other is a constant.
Labor Costs
The total sum of all wages, benefits, and taxes that businesses must pay for employing workers.
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