On December 26,2004,a Magnitude 9

question 25

Multiple Choice

On December 26,2004,a magnitude 9.3 earthquake generated a tsunami that devastated coastlines on the ________ Ocean.

• A)Atlantic
• B)Arctic
• C)Indian
• D)Pacific

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Definitions:

Economic Profits

The difference between a firm's total revenue and its total costs, including both explicit and implicit costs, representing profit beyond the normal rate of return.

Opportunity Cost

The loss of potential gain from other alternatives when one particular alternative is chosen.

Savings Account

A deposit account held at a bank or other financial institution that provides principal security and a modest interest rate.

Economic Profit

The difference between total revenue and total costs, including both explicit and implicit costs, indicating the efficiency with which a company utilizes its resources.