
To choose: The term that best completes the given sentence.

Answer to Problem 3AA
The term that best completes the given sentence is output.
Explanation of Solution
The factory uses the factors like labor, machines and raw materials to produce commodities which are known as its output. Output is the sum total of commodities produced by the factory. These outputs are used by the household for the process of consumption.
So, the answer is ‘output’.
Introduction: Economic output is the total amount of commodities produced by an economy in a given period of time.
Chapter 13 Solutions
Economics Today and Tomorrow, Student Edition
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Business Essentials (12th Edition) (What's New in Intro to Business)
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Financial Accounting: Tools for Business Decision Making, 8th Edition
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