Any Item That Can Be Selected and Manipulated Independently of Surrounding

question 9

Short Answer

Any item that can be selected and manipulated independently of surrounding text is a(n)________.

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Definitions:

Pure Rent

Income received by a landowner for the use of a natural resource, land, or location that is essentially in fixed supply.

Pure Rent

Income earned from owning a resource completely fixed in supply, with no additional production cost.

Fixed Supply

A situation where the quantity of a good available is constant and does not change with price.

Demand Determined

A characteristic of markets where the quantity of goods or services sold is primarily influenced by consumer demand.