Productive Inputs Capable of Replacing Themselves If Harvested at Moderate

question 287

Multiple Choice

Productive inputs capable of replacing themselves if harvested at moderate rates are known as

• A)renewable natural resources.
• B)natural capital.
• C)nonrenewable natural resources.
• D)fossil fuels.

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Definitions:

Depreciation

The accounting method of allocating the cost of a tangible asset over its useful life to account for the decline in value over time.

Lease Payments

Regular payments made by a lessee to a lessor for the use of an asset over a specified period.

Sole Proprietor

An individual who owns and operates a business alone, bearing full responsibility for its debts and liabilities.

Schedule C

A form used by sole proprietors to report their business income and expenses to the IRS as part of their personal tax return.