Posted in Economics

Econ 5.2 Vocab

14. Production function: a graph that shows how a change in the amount of a single variable input changes total production

15. Various مختلف: several; many

16. Short run وقت سريع: a time so fast that only the amount of variable input can be changed

17. Labor عمل: work

18. Long run وقت طويل: a time long enough to change the amounts of all inputs

19. Total product إجمالي المنتج: total (full) production made by a company or business

20. Marginal product: extra production due to more help/work إنتاج إضافي بسبب مساعدة إضافية

21. Firm عمل واحد: a business that sells stuff for profit

22. Stages of production (3): helps a firm decide how many workers to hire and for how long

23. Rate سرعة: speed something is made or done

24. Contribution مساعدة: help

25. Diminishing returns: making less products than before صنع منتجات أقل

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