The Negatively Privileged Property Classes Include All but One of the Following

question 17

Multiple Choice

The negatively privileged property classes include all but one of the following:

• A)Completely unskilled persons
• B)Those dependent on seasonal employment
• C)Those at the bottom of the class system
• D)The bourgeoisie

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Definitions:

Firm

A business organization, such as a corporation, partnership, or sole proprietorship, that sells goods or services to make a profit.

Economic Profits

The difference between total revenue and total costs, including both explicit and implicit costs, representing the additional gain beyond the normal profit level.

Implicit Costs

The opportunity costs of using resources owned by the firm for its own production rather than earning income elsewhere.

Accounting Profits

The net income reported on the financial statements of a company, calculated as total revenues minus explicit costs and depreciation.