Examlex

Solved

If You Lived on an Active Fault and Felt a Small

question 73

Multiple Choice

If you lived on an active fault and felt a small earthquake, what would that mean?


Definitions:

Economic Profits

Profits exceeding the opportunity costs of all inputs, indicating a return beyond the norm expected in the market or industry.

Industry

A sector of the economy characterized by a specific type of activity or product, such as manufacturing, technology, or services.

Firms

Business organizations that produce goods or provide services with the aim of making a profit.

Resources

Assets, materials, and inputs needed for the production of goods and services, including natural, human, and capital resources.

Related Questions