The Price Paid to a Resource in Totally Fixed Supply

question 98

Multiple Choice

The price paid to a resource in totally fixed supply is called

• A)economic rent
• B)economic profit
• C)wages
• D)interest
• E)opportunity cost

---

Definitions:

Television

A system for transmitting visual images and sound that are reproduced on screens, primarily used for entertainment, news, and education.

Mass media

Media channels including TV, newspapers, and the web that are designed to communicate with wide audiences.

Mass media

Various forms of communication, such as television, newspapers, and the internet, that reach large audiences simultaneously.

Media convergence

The merging of different media channels, such as newspapers, television, and the internet, into a single, integrated communication platform.