The Term Often Used to Refer to the Mixed Cultures

question 203

Short Answer

The term often used to refer to the mixed cultures of Middle/South America is ________________.

---

Definitions:

Long Run

A period in economics during which all factors of production and costs are variable, allowing full adjustment to any change in the economic environment.

Break-Even Point

This is the point at which total revenues equal total costs, and the business or project makes neither a profit nor a loss.

Firm's Output

The quantity of goods or services produced by a firm within a given time period.

Short Run

A period in economics where at least one factor of production is fixed and cannot be changed.