Economic Rent Is a Concept That Can Be Applied

question 28

Multiple Choice

Economic rent is a concept that can be applied

• A) only to land, as that is the only resource that is in limited supply.
• B) only to land and natural talent.
• C) to any factor of production that is fixed in supply.
• D) to any resource or factor of production that has a supply curve with a positive (upward) slope.

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Definitions:

Social Networking Sites

Online platforms that enable users to create a public or semi-public profile, connect with other users, and exchange content and communication.

Online Sense of Community

A feeling of belonging and connectedness experienced by individuals in virtual communities or social networks.

Reich

Refers historically to a German empire or realm.

Bystander Nonintervention

The phenomenon where individuals do not offer help to a victim when other people are present, often due to diffusion of responsibility or fear of making the situation worse.