To Determine the Quantity of Any Activity That Will Maximize

question 66

Essay

To determine the quantity of any activity that will maximize total net benefit, economists employ the
________ rule.
A.average decision
B.total decision
C.principle of marginal analysis
D.principle of average analysis

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Definitions:

Product Output Stakeholders

Individuals or groups who are directly affected by the production and outcome of a product, including consumers, employees, investors, and suppliers.

Value Creation

What occurs when the result of a work task or activity makes a product or service worth more in terms of potential customer appeal than at the start.

Sustainable Business

A business approach that focuses on meeting the needs of the present without compromising the ability of future generations to meet their own needs.

Natural Environment

All living and non-living things occurring naturally, such as land, water, air, plants, and animals, which are essential for human survival and economic activity.