Charges That Are Paid for Factors of Production Are Called

question 209

Multiple Choice

Charges that are paid for factors of production are called:

• A) implicit costs.
• B) opportunity costs.
• C) fixed costs.
• D) explicit costs.

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Definitions:

Prokaryotes

Prokaryotes are unicellular organisms lacking a distinct nucleus and membrane-bound organelles, including bacteria and archaea, characterized by their simple cellular structure.

Domains

In biology, refers to the highest categorization in the classification of life, dividing organisms into three groups: Bacteria, Archaea, and Eukarya.

Bacteria

Single-celled microorganisms that can be found in various environments, some of which are beneficial while others can cause diseases.

Poaceae

A large and economically important family of plants, also known as the grass family, which includes species like wheat, corn, and rice.