Coal Is a Fossil Fuel That Results from Pressure Being

question 31

Multiple Choice

Coal is a fossil fuel that results from pressure being exerted on plant and animal decay for millions of years. Oil and natural gas are also fossil fuels except they

• A) formed from microscopic plants and animals.
• B) in order of appearance formed mainly in the water.
• C) form much faster than coal.
• D) do not require pressure to be exerted.

---

Definitions:

Economic Profit

The difference between total revenues and total costs, including both explicit and implicit costs, measuring the financial success of a business beyond normal profit margins.

Explicit Costs

Refers to direct monetary expenses businesses incur in their operations, such as wages, rent, and materials.

Normal Profit

Normal profit is the minimum amount of profit needed for a company to remain competitive in the market, covering all its opportunity costs.

Normal Profits

The level of profit that business owners consider satisfactory or "normal", essentially covering both explicit and implicit costs, including a normal rate of return on investment.