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The ____ of a Variable Is the Time During Which

question 12

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The ____ of a variable is the time during which it is defined-from declaration to destruction.


Definitions:

Market Price

The present cost at which a product or service is available for purchase or sale in the marketplace.

Profit

The financial gain obtained when the amount earned from a business activity exceeds the expenses, costs, and taxes needed to sustain the activity.

Industry Supply

The total output of goods or services that firms in a specific industry are willing and able to sell at various prices, over a certain period.

Industry Demand

The total demand for all the products or services produced by a particular industry.

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