Match the following terms to their definitions:
A) Economics
E) Capital
B) Value
F) Wages
C) Labor
G) Profit
D) Competition
H) Productivity
117) Study of allocation of goods, services or resources to satisfy a desire or need.
118) A contest among sellers or buyers for control over the use of productive resources
for the use of increasing profits, market share and sales volume.
119) Wealth used in the process of production, for exchange or to finance a business.
120) Amount workers earn in the factor of production or labor.
121) The output or rate at which goods and services are produced or brought to the final
consumer.
122) The excess amount earned that exceeds the cost of production.
123) The quantity of labor, goods or money someone is willing to give in exchange for
goods or services.
124) The workers and work they do in the production of wealth and services.