__________ Refers to Wealth or Resources Invested in Business with the Intent

question 9

Multiple Choice

__________ refers to wealth or resources invested in business with the intent of producing a profit.

• A)Stock
• B)Proletariat
• C)Caste
• D)Bourgeoisie
• E)Capital

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Definitions:

Private Value

The individual valuation of a good or service to a particular consumer or producer, not taking into account external effects or social welfare.

External Benefits

Positive effects of a product or service on individuals or entities who are not directly involved in the transaction or production of the product or service.

External Benefit

A positive effect or advantage that results from a product or service's use, affecting individuals or entities who are not directly involved in the transaction.

Positive Externality

A beneficial effect experienced by a third party or the society as a whole, resulting from an economic transaction.