|
|
AP: The abbreviation for average product, which is the quantity of total output produced per unit of a variable input, holding all other inputs fixed. It is found by dividing total product by the quantity of the variable input. Average product, abbreviated AP also goes by the alias of average physical product (APP), so don't be confused by the extra term (physical).
Visit the GLOSS*arama
|
|
|
|
|
RESOURCES Labor, capital, land, and entrepreneurship used by society to produce consumer satisfying goods and services. Resources are often given the more descriptive term factors of production.
Complete Entry | Visit the WEB*pedia |
|
|
|
John Maynard Keynes was born the same year Karl Marx died.
|
|
|
"Success doesn't come to you . . . you go to it " -- Marva Collins, Educator
|
|
JHR
Journal of Human Resources
|
|
|
Tell us what you think about AmosWEB. Like what you see? Have suggestions for improvements? Let us know. Click the User Feedback link.
User Feedback
|
|
