While It Is Not Certain That U

question 73

True/False

While it is not certain that U.S.leadership will continue into the next generation, the nation will continue to enjoy the abundance it has enjoyed in the past.

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Definitions:

Positive Profit

Positive Profit occurs when the total revenue of a business exceeds its total costs.

Total Revenue

Total Revenue refers to the total receipts from sales of goods or services by a firm over a specified period.

Variable Costs

refer to expenses that change in proportion to the activity of a business, such as costs for raw materials or production volume.

Fixed Costs

Costs that do not change with the level of output produced, such as rent or salaries.