Nongeographic Communities Are Based on Some Commonality Other Than Location

question 38

True/False

Nongeographic communities are based on some commonality other than location.

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Definitions:

Capital Equipment

Long-term assets a business uses in the production of goods and services, such as machinery, buildings, and vehicles.

Equilibrium Wages

The salary level where the amount of work offered matches the amount of work sought in the employment market.

Recession

A period of temporary economic decline during which trade and industrial activity are reduced, usually identified by a fall in GDP in two successive quarters.

Opportunity Cost

The price paid for not selecting the next most favorable choice during a decision-making process.