Geographic Information Systems (GIS)are Powerful Software Programs That Allow Entrepreneurs

question 3

True/False

Geographic Information Systems (GIS)are powerful software programs that allow entrepreneurs to pinpoint the ideal location for their businesses.

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Definitions:

User Cost

The cost associated with the use of a product or service, including purchase cost, maintenance, and operating expenses, as well as opportunity costs.

Extraction Cost

The expenses associated with the removal of raw materials or resources from their natural setting, which can include labor, equipment, and operational costs.

User Cost

The cost associated with using a capital asset, considering both the depreciation of the asset and the foregone interest that could have been earned by investing funds elsewhere.

Nonrenewable Resource

A natural resource that cannot be replenished at the same rate at which it is consumed.