What Are the Major Sources of Economic Profit

question 1

Multiple Choice

What are the major sources of economic profit?

• A) certainty, monopolistic competition, and inelastic supply.
• B) competition, perfect information, and elasticity of market demand.
• C) barriers to entry, uncertainty, and entrepreneurial alertness.
• D) externalities, inflation, and size of firm.

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Definitions:

General Population

The total group of individuals or the mainstream society from which a statistical sample can be drawn.

Personality Disorder

A type of mental disorder marked by rigid and unhealthy patterns of thinking, functioning, and behaving.

Neuroticism

A personality trait characterized by emotional instability, anxiety, moodiness, worry, and a tendency toward negative emotional states.

Extraversion

a personality trait that involves being outgoing, energetic, and sociable, and deriving energy from interactions with others.