Examlex
Select the correct name for the following compound.
Factor of Production
An input used in the production of goods or services, such as land, labor, capital, and entrepreneurship.
Competitive Market
A market structure characterized by many buyers and sellers, where no single entity can dictate the market price of the product or service.
Final Product
The last output of a production process, after all stages of production are completed.
Marginal Revenue Product Curve
A graphical representation showing how the extra revenue generated from employing one more unit of a resource changes as more of the resource is employed.
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