Proxemics Is the Study of

question 323

Multiple Choice

Proxemics is the study of

• A)approximations.
• B)rules for proxy.
• C)group cohesiveness.
• D)personal space.

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Definitions:

Long Run

A period in which all factors of production and costs are variable, allowing for adjustment to changes in the market or economy.

Economic Profit

A calculation of profitability that takes into account both the direct costs and opportunity costs of pursuing a particular course of action.

Economies Of Scale

The situation when a firm’s average total cost of producing a product decreases in the long run as the firm increases the size of its plant (and, hence, its output).

Excess Production

The situation where more units of a product are produced than are demanded, often resulting in surplus inventory.