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Economics
Term | Definition |
---|---|
capital | machines and tools used in producing |
economist | a person who studies economist |
goods | a material which may be sold to a consumer or another industry. |
producing | the way that societies turn into resources into goods and services |
profit | the difference between the revenue |
factors of production | the four factors that may be combined in many ways |
assembly line | a manufacturing process that uses standardized parts |