PLEASE HELP ME MATCH THE FOLLOWING...
1.standard of living
2. economies of scale
3. division of labor.
4. gross domestic product
5. investment.
6. diminisihing returns
7. infrastructure.
8. production
9. productivity
10. technology.
a. value of final goods and services produced in a given period of time.
b. application of science to commerce and industry.
c. businesss spending for plant and equipment.
d. creation of goods and services.
e. reduced unit costs achieved in large factories.
f. a measured of quantity of goods and services available.
g. highways, airports and other facilities
h. output per unit of input.
i. point reached at which additional inputs result in lower additional output.
j. Large tasks are broken down into series of small ones.
You need to use a good dictionary and look up some of those terms. They will help you decide which matches what.
For example, look up "diminishing" at http://www.answers.com -- and you will find that is has to do with something becoming less and less. That matches with the ideas in "i" -- right?
Try it with the others, and let us know what you come up with. Someone here will give you feedback.
=)
Let's go through each term and their definitions to match them:
1. standard of living: the level of wealth, comfort, material goods, and necessities available to a certain group or individual.
- This definition matches with "f. a measure of the quantity of goods and services available."
2. economies of scale: the reduction in the average cost per unit of production as the scale of production increases.
- This definition matches with "e. reduced unit costs achieved in large factories."
3. division of labor: the specialization of tasks and roles within a production process, where different individuals or groups focus on specific tasks.
- This definition matches with "j. Large tasks are broken down into a series of small ones."
4. gross domestic product: the total value of final goods and services produced within a country's borders in a specific time period.
- This definition matches with "a. value of final goods and services produced in a given period of time."
5. investment: the act of putting money, resources, or effort into a specific venture or project to earn a return or increase in value.
- This definition matches with "c. business spending for plant and equipment."
6. diminishing returns: the point at which the increase in additional input leads to a decrease in additional output.
- This definition matches with "i. point reached at which additional inputs result in lower additional output."
7. infrastructure: the physical and organizational structures and facilities needed for the operation of a society or enterprise.
- This definition matches with "g. highways, airports, and other facilities."
8. production: the creation of goods and services using various resources and inputs.
- This definition matches with "d. creation of goods and services."
9. productivity: the measure of output achieved per unit of input or resource utilized.
- This definition matches with "h. output per unit of input."
10. technology: the application of scientific knowledge, skills, and tools to solve practical problems or enhance efficiency.
- This definition matches with "b. application of science to commerce and industry."
By matching the definitions of each term with their corresponding options, we can determine the correct matches.