After______________,the Terms "First World," "Second World," and "Third World" Were

question 47

Multiple Choice

After______________,the terms "First World," "Second World," and "Third World" were introduced by social scientists.

• A)the Civil War
• B)the Korean War
• C)World War II
• D)the Vietnam War

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Definitions:

Economic Profit

Economic profit is the surplus that remains when total revenue exceeds the total costs, including both explicit and implicit costs.

Explicit Costs

Direct payments made to others in the course of running a business, such as wages, rent, and materials.

Total Revenues

The overall amount of money generated by a business from its sales or services before any costs or expenses are deducted.

Normal Rate

The standard or average rate at which something occurs, such as interest rates, inflation, or unemployment rates.