UNIT 5

Created by mward8 

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5 terms · UNIT 5 TERMS

Division of Labor

an automobile assembly line

Productivity

The output of goods that comes from the use of one unit of production in making a product

Production Possibilities

The combinations of goods and services that are chosen

Division of Labor

Division of work into a number of separate tasks to be performed by different workers (Specialization)

Production

The process by which the factors of production are employed to make a product

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