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According to your textbook, "Let every nation know that we shall pay any price, bear any burden, meet any hardship, support any friend, oppose any foe to assure the survival and the success oliberty" is an example of
Industry
A sector of the economy that includes businesses and organizations that produce similar goods or services.
Economic Costs
The sum of explicit and implicit costs which represent the total opportunity costs of resource utilization in the production of goods or services.
Opportunity Costs
The loss of potential gain from other alternatives when one alternative is chosen.
Explicit Costs
Direct, out-of-pocket payments for expenses incurred in conducting business, such as wages, rent, and materials.
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