Examlex
Which among the following countries had the highest GDP per person in 2011?
Output Price
The market price at which a final good or service is sold, affecting a firm’s revenue and production decisions.
Labor Demand
The total amount of workers that employers are willing and able to hire at a given wage rate in a certain period.
Technological Advance
Improvements or innovations in technology that enhance productivity or efficiency in production processes.
Marginal Product
The additional output generated by employing one more unit of a factor of production.
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