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What do economists call the process of transforming inputs, or resources, into marketable outputs?

Sagot :

Production is the process of converting the inputs, or resources, into marketable outputs, as defined by economists. An economist studies how a society's resources and its output or production are related.

The Economists research a variety of social systems, including local communities, entire countries, and even the global economy. An economist is a specialist who investigates the connection between a society's resources and its output.

A wide range economic policies, including interest rates, tax laws, output, the employment programs, the international trade agreements, and company strategy, are shaped in part by the professional judgement and research findings of the economists.

To learn more about economists, click here.

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