What Was the Most Influential Factor in Our Economic Development

question 69

Multiple Choice

What was the most influential factor in our economic development during the 19th century?

• A)The abundance of capital
• B)The abundance of labor
• C)Mass production
• D)The abundance of land

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Definitions:

Scrap Value

The estimated resale value of an asset at the end of its useful life, often considered in depreciation calculations.

Salvage Value

The expected market value an asset will achieve when it is disposed of after its life cycle.

Payback Period

The length of time it takes for an investment to recover its initial cost out of the cash inflows that it generates.

Simple Rate of Return

A method of investment appraisal that calculates the annual incremental net operating income as a percentage of the initial investment.