FULL EMPLOYMENT, PRODUCTION POSSIBILITIES: Full employment is the condition that exists when all available resources are engaged in the production of goods and services. In other words, all resources that could be used for production are being used. No resources are idle. All resources are producing goods. If you haven't examined the entry on full employment, now would be a good time.

     See also | full employment | production possibilities | resources | production | goods | services |

FULL EMPLOYMENT, PRODUCTION POSSIBILITIES, AmosWEB GLOSS*arama, http://www.AmosWEB.com, AmosWEB LLC, 2000-2025. [Accessed: April 22, 2025].

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The change in the quantity of total product resulting from a unit change in a variable input, keeping all other inputs unchanged. Marginal product, usually abbreviated MP, is found by dividing the change in total product by the change in the variable input. Marginal product, which occasionally goes by the alias marginal physical product (MPP), is one of two measures derived from total product. The other is average product.

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