Examlex

Solved

Define Cultural Evolution and Discuss How It Differs from Biological

question 8

Essay

Define cultural evolution and discuss how it differs from biological evolution.


Definitions:

Marginal Revenue Product

The additional revenue generated from using one more unit of a factor of production.

Marginal Expenditure

The supplementary cost resulting from acquiring an extra unit of a good or service.

Economic Rent

Economic rent is the excess payment made to or received by a factor of production over and above what would have been needed to bring that factor into production.

Competitive Factor Market

A market for inputs where firms purchase resources necessary for production, characterized by many sellers and buyers.

Related Questions