The Sacrifices Made by Societies in Order to Engage in Military

question 74

Multiple Choice

The sacrifices made by societies in order to engage in military spending represent

• A) the nominal costs of military spending.
• B) the real costs of military spending.
• C) the opportunity costs of military spending.
• D) the excessive costs of military spending.

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Definitions:

Marginal Benefits

The extra advantage gained from a single unit rise in a specific action.

Marginal Costs

The increase in cost resulting from the production of an extra unit of a good or service.

Studying Economics

The academic pursuit focused on understanding how societies use limited resources to produce valuable commodities and distribute them among different people.

Marginal Analysis

An approach in economics that examines the effects of adding to or subtracting from the current situation.