Economists Consider Profit to Be

question 250

Multiple Choice

Economists consider profit to be

• A) a cost of producing goods and services.
• B) the same as a salary.
• C) a reward for incurring losses.
• D) something that should be eliminated by antitrust laws.

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Definitions:

Social and Economic Security

The assurance of basic needs and financial stability for individuals through public or private means, aimed at reducing poverty and inequality.

Thomas E. Dewey

An American politician who served as the Governor of New York and was the Republican candidate for the U.S. Presidency in 1944 and 1948, famously losing the latter in a close race to Harry S. Truman.

New York Governor

The chief executive of the State of New York, responsible for enforcing state laws and overseeing the operation of the state government.

Colonialism

The policy or practice of acquiring full or partial political control over another country, occupying it with settlers, and exploiting it economically.