Examlex
Before industrialization, daily life for the vast majority of people focused on __________.
Production
The process of creating goods and services through the combination of labor, materials, and technology.
Quantity
The amount or number of a material or immaterial good or service.
Average Fixed Cost
The fixed costs of production (expenses that do not change with the level of output) divided by the quantity of output produced.
Output
The total quantity of goods and services produced by an economy or a firm.
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