The Value of a Factor in Its Best Alternative Use

question 77

Multiple Choice

The value of a factor in its best alternative use is called

• A) alternative value.
• B) transfer earnings.
• C) intrinsic value.
• D) economic profit.
• E) economic earnings.

---

Definitions:

Ethics

The moral standards expected by a society.

Moral Standards

The principles that govern the behavior of individuals and institutions regarding what is right and wrong.

Society

A group of individuals involved in persistent social interaction, or a large social group sharing the same geographical or virtual territory, typically subject to the same political authority and dominant cultural expectations.

Marketing Campaign

A coordinated series of steps that include the promotion of a product or service through various media and techniques to achieve specific business goals.