Any of a Set of Physical Properties, the Value of Which

question 93

Short Answer

Any of a set of physical properties, the value of which determines characteristics or behavior, is called a(n) __________.

---

Definitions:

Productivity

The measure of efficiency depicted as the ratio of total output produced to a total input used, often used to gauge the efficiency of production or economic performance.

Occupational License

A form of certification or permit indicating that an individual is qualified to carry out a specific job or profession.

Labor Market

The supply and demand for labor, where employers seek to hire workers and workers look for jobs.

Purely Competitive Market

A purely competitive market is an economic theory describing a market where many sellers offer identical products, leading to prices being determined by supply and demand.