All of the Following Increased Agricultural Productivity Except

question 47

Multiple Choice

All of the following increased agricultural productivity except

• A)the replacement of the sickle with the scythe.
• B)specialization and regular schedules.
• C)a significant improvement in the climate.
• D)increased use of chemical fertilizer.
• E)the steam driven threshing machine.

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Definitions:

Leasing

A contractual arrangement where one party (the lessor) grants another party (the lessee) the right to use an asset for a specified period in return for regular payments.

Wages Forgone

The potential earnings that are lost or given up by choosing one alternative over another, often considered in decisions about education or training.

Implicit Costs

The opportunity costs of using resources owned by the firm for its own use, rather than selling them for a profit elsewhere.

Economic Costs

The total value of all resources used in the production of goods or services, including both explicit and implicit costs.