Which of the Following Is Included in the Cost of Land

question 210

Multiple Choice

Which of the following is included in the cost of land?

• A) cost of fencing
• B) cost of paving
• C) brokerage commission
• D) cost of outdoor lighting

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Definitions:

Comparative Advantage

An economic principle that refers to the ability of an entity to produce goods or services at a lower opportunity cost than others, leading to more efficient trade.

Geegaws

Small, showy trinkets or novelty items.

Doodads

Informal term for small gadgets or devices, often novel or unnecessary; not a standard economic term.

Pareto Optimal

An economic state where resources are allocated in such a way that it is impossible to make any one individual better off without making at least one individual worse off.