Table 23-1 The Table Below Contains Data for the Country of Wrexington

question 151

Multiple Choice

Table 23-1
The table below contains data for the country of Wrexington for the year 2006.

-Refer to Table 23-1.Net national product for Wrexington in 2006 is

• A) $96.
• B) $104.
• C) $106.
• D) $114.

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Definitions:

Profits

Profits are the financial gains obtained when the revenues generated from business activities exceed the expenses, costs, and taxes needed to sustain the operation.

Entrepreneurial Ability

The skill or talent for identifying new business opportunities and the willingness to take risks to develop and manage a business.

Production Technique

The method or process used by a company or industry to create goods or services, often involving specific technologies or procedures.

Price Of Labor

The wages or salary that workers receive in exchange for their labor or services in the job market.