Payment to an Input Which Is in Excess of the Minimum

question 60

Multiple Choice

Payment to an input which is in excess of the minimum amount required to retain the input in its present use is called _____.

• A)total revenue
• B)factor payment
• C)economic rent
• D)surplus value

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Definitions:

Deviance

Behaviors or actions that violate societal norms or expectations, eliciting a range of responses from disapproval to legal sanctions.

Phenomenological Theory

A philosophical approach focusing on individuals' subjective experiences and interpretations of the world.

Subjectivity

The influence of personal feelings, tastes, or opinions on perception or judgment.

Consciousness

The state of being aware of and able to think about one's own existence, sensations, thoughts, surroundings, and experiences.