The Humerus Is the Bone of the Upper Arm

question 844

Multiple Choice

The humerus is the bone of the upper arm.The proximal end of the humerus is located next to the:

• A)spine.
• B)elbow.
• C)wrist.
• D)shoulder.

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Definitions:

Implicit Cost

Refers to the opportunity costs that are not directly paid for in money but represent the loss of value from using resources for a particular venture instead of their best alternative use.

Explicit Cost

Direct, out-of-pocket payments for goods or services used in the production of a product or offering of a service.

Sole Proprietor

An individual who owns and operates a business alone, bearing all the responsibilities and benefits of the business.

Short Run

A timeline in economics where at least one factor of production is fixed, constraining the ability to adjust to changing economic conditions.