What Can We Do to Reduce the Effects of Natural

question 1

Multiple Choice

What can we do to reduce the effects of natural disasters significantly?

• A) change the social factors that exacerbate disasters
• B) move people to safer places
• C) provide aid money after a disaster
• D) change weather patterns to prevent storms

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Definitions:

Profit-maximizing

The process or strategy by which a firm determines the price and output level that returns the greatest profit.

Output

The total amount of goods or services produced by a firm, industry, or economy in a given period.

Marginal Wage Cost

The additional cost incurred by hiring an extra unit of labor, essentially the change in total wage cost from hiring one more employee.

Monopsonistic Labor Market

A market situation in which there is only one buyer (employer) for many sellers (workers), allowing the buyer to exert considerable control over wages and employment conditions.