Economic Costs Include Only the Explicit Payments Made for a Factor

question 27

True/False

Economic costs include only the explicit payments made for a factor of production.

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Definitions:

Palatine Tonsils

Two masses of lymphatic tissue located at the back of the throat.

Digestive System

The system of organs responsible for breaking down food, absorbing nutrients, and eliminating waste from the body.

Large Intestine

The last part of the gastrointestinal tract and digestive system in vertebrates, responsible for water absorption and the transmission of waste material.

Saliva

A watery fluid produced by the salivary glands in the mouth, essential for chewing and digestion.