Which of the Following Is NOT Mentioned in the Textbook

question 43

Multiple Choice

Which of the following is NOT mentioned in the textbook as one of its three goals?

• A) Presenting the basic tools of economics.
• B) Promoting an understanding of markets.
• C) Showing the ways in which the possibilities of today's economy are expanding.
• D) Teaching how to successfully invest money in the stock market.

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Definitions:

Accounting Profit

Accounting profit is the financial gain calculated by subtracting total explicit costs from total revenue.

Explicit Costs

Direct, out-of-pocket payments for wages, rent, materials, and other inputs necessary for the production of goods or services.

Implicit Costs

The opportunity costs of using resources owned by the firm for its own use, without any direct payment made.

Opportunity Cost

The worth of the best alternative given up to make a choice.