Subsistence Agricultural Practices Are Characterized by All of the Following

question 1

Multiple Choice

Subsistence agricultural practices are characterized by all of the following attributes except

• A)use of manure as fertilizer.
• B)use of draft animals for labor source.
• C)water and fossil fuel energy conservation.
• D)high crop yield per acre.
• E)limited use of agrochemicals.

Relate the concept of opportunity cost to production and service outsourcing decisions.

Define the scope of economics and its application to decision-making and resource allocation.

Recognize the impact of information availability on market operations and efficiency.

Analyze the financial implications of educational investments and choices.

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Definitions:

Identity

The characteristics, attributes, or qualities that make a person or thing unique and distinguishable from others.

Nominal GDP

The value of the final goods and services produced in a given year valued at that year’s prices.

Velocity of Money

The speed at which currency is transferred from one deal to another and the frequency of usage of a currency unit within a specific timeframe.

Unemployment

The state of being without a job despite actively looking for work, usually measured as a percentage of the labor force.