If Each of Us Could Produce Everything We Needed for Ourselves,we

question 134

Short Answer

If each of us could produce everything we needed for ourselves,we would be considered to be ________.

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Definitions:

Opportunity Cost

The price of missing out on the next best option while making a choice or deciding between various possibilities.

Borrowed Funds

Capital that is obtained through loans or credit, typically for investment or expenditures, that needs to be repaid.

Retained Earnings

The portion of a company's profits not distributed to shareholders as dividends but instead reinvested in the business or kept as reserve.

Expected Costs

The forecasted amount of expenses that will be incurred as a result of a certain action or decision.