Examlex
Political power in a Sumerian city rested primarily with the priests.
Opportunity Cost
The expense incurred by not choosing the second-best option available during decision-making.
Producer Surplus
Is the difference between the amount producers are willing to accept for a product or service and the actual amount they receive.
Sellers' Costs
The expenses incurred by sellers in providing goods or services, including production, labor, and materials costs.
Good
A tangible product or item that satisfies some human want or need, which can be transferred or sold from one person to another.
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