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Because Land Has Unlimited Life,it Is Not Subject to Depreciation

question 174

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Because land has unlimited life,it is not subject to depreciation.Therefore,items that increase the usefulness of the land such as parking lots are also not depreciated.


Definitions:

Externalities

Costs or benefits arising from an economic activity that affect third parties who did not choose to incur that cost or benefit.

Economic Outcomes

The results or consequences of particular economic policies, decisions, or activities on the overall economy.

Pollution

Pollution denotes the introduction of harmful substances or products into the environment, leading to adverse effects on life and health.

Edgeworth Box

A diagram used in economics to show the efficient distribution of resources between two individuals or markets, based on their preferences and endowments.

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