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In the market system, all the factors of production in the economy are owned by private individuals. All economic decisions are made by private individuals. Private individuals can engage in productive activities, choose what to buy, where to work, etc.

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Decisions made by managers are crucial to the success or failure of a business. Roles played by business managers are becoming increasingly more challenging as complexity in the business world grows. Business decisions are increasingly dependent on constraints imposed from outside the economy in which a particular business is based-both in terms of production of goods as well as the .

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It Reflects Billions Of Production Decisions Made By Millions Of Individual s In The Economy. B. It Shows The Relation Between Investment And The Quantity Of .

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Production function - Wikipedia

The theory of production functions In general, economic output is not a (mathematical) function of input, because any given set of inputs can be used to produce a range of outputs. To satisfy the mathematical definition of a function, a production function is customarily assumed to specify the maximum output obtainable from a given set of inputs.

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Aggregate Demand Definition

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Aggregate supply in macroeconomics

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