Write True or False to the Statements Below

question 106

True/False

Write True or False to the statements below.If the statement is false, rewrite the underlined word or phrase to make the statement true.
-The first stage of the Green Revolution includes mono crop fields of high-yield rice, wheat, and corn; increased use of water, fertilizers, and pesticides; and reduction of the field-resting time between crops.

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Definitions:

Positive Economic Profits

Earnings that exceed the opportunity costs of inputs, indicating that a firm is generating returns higher than the next best alternative use of its resources.

Market Price

The current price at which goods or services can be bought and sold in a marketplace, determined by supply and demand.

Profit

Profit represents the financial gain obtained when the revenue from business activities exceeds the expenses, costs, and taxes involved in operating the business.

Industry Supply

The total output of a specific good or service that all producers in an industry are willing to sell at different price levels.