Aztec Farmers Constructed Soil Islands in Lake Texcoco Called _________

question 24

Multiple Choice

Aztec farmers constructed soil islands in Lake Texcoco called _________ and grew corn, beans, squash, and other vegetables on them.

• A) Chinampas
• B) Charquis
• C) Curacas
• D) Ayllus

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Definitions:

Implicit Costs

Costs that represent the value of resources used in production for which no direct payment is made.

Explicit Costs

Direct, out-of-pocket payments a firm makes to purchase the inputs it needs for production, such as wages, rent, and materials.

Calendar Time

The concept of time as measured by calendar units, such as days, months, and years, used in planning and scheduling.

Long Run

An economic phase where all elements of production and expenses can fluctuate, enabling complete adaptation to any alterations.