Indicate Whether the Processes Listed Below Are Used in Industrialized

question 71

Multiple Choice

Indicate whether the processes listed below are used in industrialized agriculture or organic agriculture.
-greater use of renewable energy sources

• A)industrialized agriculture
• B)organic agriculture

---

Definitions:

Economic Profit

The difference between a firm's total revenue and its total costs, including both explicit and implicit costs.

Accounting Profit

The total revenue of a business minus the explicit costs of operating the business.

Implicit Costs

The opportunity costs associated with a company's use of resources that are not directly paid for or billed.

Implicit Cost

The opportunity costs that are not directly paid or incurred but represent the loss of alternative benefits when resources are used in a particular way.