Examlex
The most dramatic digital technology is the iPad.
Forgone Entrepreneurial Income
The potential income an entrepreneur misses out on when choosing to start their own business rather than working for wages.
Production Costs
Expenses related to the manufacture of goods or delivery of services, including materials, labor, and overhead.
Average Product
The output per unit of input, calculated by dividing total product by the quantity of input.
Labor
The physical and mental effort used in the production of goods and services.
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