A Relatively Stable Community of Organisms with Interlocking Relationships and Exchanges

question 104

Multiple Choice

A relatively stable community of organisms with interlocking relationships and exchanges with one another and their natural habitat is called a(n)

• A) society.
• B) behavioral sink.
• C) environment.
• D) ecosystem.

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Definitions:

Marginal Product

The additional output that is produced by using one more unit of a particular input, assuming all other inputs remain constant.

Implicit Costs

The opportunity costs that arise from using resources that a company already owns for production, instead of earning revenue from these resources elsewhere.

Explicit Costs

Explicit costs refer to direct payments made to others in the course of running a business, such as wages, rent, and materials.

Variable Cost

Costs that change in proportion to the level of output or production activity.