The Best Example of an 'Enclave' Would Be

question 7

Multiple Choice

The best example of an 'enclave' would be

• A)Alaska.
• B)West Berlin (which enclave no longer exists).
• C)the island of Sardinia.
• D)the 'country' of Catalonia (marginally within Spain).

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Definitions:

Substitute Resource

A resource or product that can be used in place of another to fulfill a similar function or need.

Marginal Revenue Product Curve

A graphical representation showing how the revenue generated from selling an additional unit of a good or service changes as more units are produced.

Purely Competitive Seller

A firm operating in a market where it must accept the prevailing market price and cannot influence it.

Law of Diminishing Returns

An economic principle stating that as investment in a particular area increases, the rate of profit from that investment, after a certain point, cannot continue to increase if other inputs remain at a constant.