Examlex
If Ebenezer Scrooge spends rather than saves his vast wealth,he will
Output
The total amount of goods or services produced by a company, industry, or country.
Technological Advance
Refers to the improvement and innovation in technology, leading to increased productivity, better products, or new methods of production.
Marginal Product
The additional output resulting from the use of one more unit of a production input, holding other inputs constant.
Labor
The human effort, including physical and mental skills, employed in the production of goods and services within an economy.
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